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Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
 “Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2020 they are up 53%. During the same period, the order book has grown by 72%, reaching its highest level since early 2012 and is up 2% year-to-date,” says Niels Rasmussen, Chief Shipping Analyst at BIMCO.
Shipyards’ global order book currently stands at 133m Compensated Gross Tonnage (CGT), an increase of 56m CGT compared to the order book’s most recent low in late 2020. LNG and container ships have accounted for respectively 35% and 30% of the increase while bulk carriers, tankers and LPG have accounted for the rest.
The order book for container ships, however, peaked during the first quarter of 2023 and has fallen since. Year-to-date, the container ship order book has fallen 16%, deviating from the overall growth trend together with the bulk carrier order book which is down 3%.
“So far this year, the tanker and LNG segments combined have been the main drivers of growth in the global order book. In addition, the LPG tanker, cruise ship, chemical tanker and RoRo ship order books have seen double digit growth,” says Rasmussen.
Between 2010 and 2020, the shipyard industry was plagued by overcapacity. Therefore, prices only varied +/- 10% from the period’s median price.
Assuming that the available shipyard capacity in a year equals the maximum delivered in the past five years, we can illustrate both the past overcapacity and how the situation has improved.
Between 2010 and 2020, the median order book vs capacity ratio was 2.2, declining to 1.7 during the second half of 2017. Since then, the ratio has climbed from 2.1 in late 2020 to 3.7 currently, the highest since 2010.
This improvement has helped fuel the price increases. The 53% price increase in just 3.5 years may seem dramatic but it is worth remembering that the average annual price increase between 2010 and 2024 has only been 2.3% even though manufacturing wages in China have more than tripled.
“Looking ahead, the need to start replacing the large generations of ships built in the 2000s, as well as the need to decarbonise, appear to bode well for future contracting. Avoiding a massive build-up of shipyard capacity like in 2000s will be critical if shipyards are to avoid a rise in overcapacity and a scenario where prices fall back to the levels seen in the 2010s,” says Rasmussen.
Source: By Niels Rasmussen, Chief Shipping Analyst at BIMCO
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Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- MS Steel International - UAE
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Kapuas Tunggal Persada - Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Miang Besar Coal Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- The University of Queensland
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Siam City Cement PLC, Thailand
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