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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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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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- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- Planning Commission, India
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Coal and Oil Company - UAE
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Australian Coal Association
- India Bulls Power Limited - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- Sojitz Corporation - Japan
- The University of Queensland
- Tamil Nadu electricity Board
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
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