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