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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, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
Friday, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
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Showing 26 to 30 news of total 6871 |
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- The Treasury - Australian Government
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Videocon Industries ltd - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Oldendorff Carriers - Singapore
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- White Energy Company Limited
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Romanian Commodities Exchange
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- LBH Netherlands Bv - Netherlands
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