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