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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, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
...
Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
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- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Economic Council, Georgia
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Marubeni Corporation - India
- Chamber of Mines of South Africa
- Binh Thuan Hamico - Vietnam
- CNBM International Corporation - China
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Australian Coal Association
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- PTC India Limited - India
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Siam City Cement - Thailand
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Latin American Coal - Colombia
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- VISA Power Limited - India
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Attock Cement Pakistan Limited
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
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