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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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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 ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
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Showing 21 to 25 news of total 6871 |
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- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- PTC India Limited - India
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- International Coal Ventures Pvt Ltd - India
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
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