China’s continued vehicle export boom boosts PCTC charter rates, asset values and newbuild orders
- China’s rapid growth to become the world’s largest vehicle exporter continues to push up demand in the global vehicle carrier market
- Despite a surge in newbuilding deliveries, vessel supply remains tight and is supporting rising charter rates, secondhand ship values and a renaissance in newbuilding orders
- Due to insufficient vehicle carrier capacity, some 2m vehicles are expected to be exported by other vessel types during 2026
Orders for vehicle carrier newbuildings have rebounded this year with 29 new ships contracted in the first half of 2026, compared with just two a year earlier
