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Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first five months of 2024, an increase of c.129%. Newbuilding prices for the Large LNG sector of 174,000 CBM are currently at an all-time high of USD 269 mil, up by c. 6.1%.
Values for LNG vessels have increased across all sub sectors and age categories since the start of the year, with 20YO Large LNG vessels of 140,000 CBM up by around USD 10 mil from USD 62.85 mil to USD 72.40 mil, equating to a c.15% increase since the first of January 2024 .
At the moment, the orderbook for the Large LNG sector specifically, stands at c.64% in comparison to the live fleet. The majority of orders placed so far this year are in the Large LNG sector, representing c.74%, followed by QMAX with c.23%. Historically, the only other orders taken for the QMAX sector were in the 2000’s, indicating that the recent orders could be part of a fleet renewal program. Qatar has lead orders in 2024 with a share of c.44%, the UAE represents c.13% and in third place, China with c.9%.
Earnings are currently stable but at low levels, which is usual for the time of year. Although LNG spot rates are up by c.12% month-on-month. Year on year earnings are down slightly by c.1%. However, positive sentiment for this sector stemming from geopolitical uncertainties and an increased amount of LNG being delivered to EU ports to replace the Russian Gas formerly shipped by pipeline, in combination with a push towards newer, greener vessels, have ensured that newbuilding demand for the LNG sector has remained firm.
Notable new orders include 10 x Large LNG vessels of 174,000 CBM by ADNOC scheduled to be built at Samsung and Hanwha Ocean and set to be delivered in 2028, VV value 2.7 bn.
Source: Veson Nautical
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Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
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- SN Aboitiz Power Inc, Philippines
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- Power Finance Corporation Ltd., India
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- Directorate Of Revenue Intelligence - India
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- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
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- Indian Oil Corporation Limited
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- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
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- Economic Council, Georgia
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- Singapore Mercantile Exchange
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- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
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- Eastern Coal Council - USA
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- Ministry of Transport, Egypt
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- Parliament of New Zealand
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- The State Trading Corporation of India Ltd
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
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- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
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- Karbindo Abesyapradhi - Indoneisa
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- Romanian Commodities Exchange
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- India Bulls Power Limited - India
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- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
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- McConnell Dowell - Australia
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- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
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- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
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- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
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- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Interocean Group of Companies - India
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
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- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
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- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
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- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
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- Siam City Cement PLC, Thailand
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
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- Electricity Authority, New Zealand
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
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- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
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