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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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Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
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Showing 21 to 25 news of total 6871 |
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- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Mjunction Services Limited - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Mercator Lines Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Merrill Lynch Commodities Europe
- The University of Queensland
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- ASAPP Information Group - India
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Oldendorff Carriers - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- VISA Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Price Waterhouse Coopers - Russia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Attock Cement Pakistan Limited
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Madhucon Powers Ltd - India
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