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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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Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
...
Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
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- Mercuria Energy - Indonesia
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- Trasteel International SA, Italy
- Wilmar Investment Holdings
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- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
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- New Zealand Coal & Carbon
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- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
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- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- PTC India Limited - India
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- Eastern Coal Council - USA
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- India Bulls Power Limited - India
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- Planning Commission, India
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- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
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- Kohat Cement Company Ltd. - Pakistan
- AsiaOL BioFuels Corp., Philippines
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- Ministry of Transport, Egypt
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- Energy Development Corp, Philippines
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- Energy Link Ltd, New Zealand
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- Neyveli Lignite Corporation Ltd, - India
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- Romanian Commodities Exchange
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- IEA Clean Coal Centre - UK
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- Gujarat Sidhee Cement - India
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- Global Green Power PLC Corporation, Philippines
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- Iligan Light & Power Inc, Philippines
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
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- MS Steel International - UAE
- Economic Council, Georgia
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- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
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