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