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