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