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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, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- ASAPP Information Group - India
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Australian Coal Association
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Eastern Coal Council - USA
- Sree Jayajothi Cements Limited - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Mintek Dendrill Indonesia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Krishnapatnam Port Company Ltd. - India
- Planning Commission, India
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
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