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