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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, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
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- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Minerals Council of Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Australian Coal Association
- Commonwealth Bank - Australia
- European Bulk Services B.V. - Netherlands
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Krishnapatnam Port Company Ltd. - India
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- The University of Queensland
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Essar Steel Hazira Ltd - India
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Planning Commission, India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Medco Energi Mining Internasional
- Siam City Cement - Thailand
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
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