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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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Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
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Showing 31 to 35 news of total 6871 |
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- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- The University of Queensland
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Tata Chemicals Ltd - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Grasim Industreis Ltd - India
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
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