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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 five months of 2024, an increase of c.129%. Newbuilding prices for the Large LNG sector of 174,000 CBM are currently at an all-time high of USD 269 mil, up by c. 6.1%.
Values for LNG vessels have increased across all sub sectors and age categories since the start of the year, with 20YO Large LNG vessels of 140,000 CBM up by around USD 10 mil from USD 62.85 mil to USD 72.40 mil, equating to a c.15% increase since the first of January 2024 .
At the moment, the orderbook for the Large LNG sector specifically, stands at c.64% in comparison to the live fleet. The majority of orders placed so far this year are in the Large LNG sector, representing c.74%, followed by QMAX with c.23%. Historically, the only other orders taken for the QMAX sector were in the 2000’s, indicating that the recent orders could be part of a fleet renewal program. Qatar has lead orders in 2024 with a share of c.44%, the UAE represents c.13% and in third place, China with c.9%.
Earnings are currently stable but at low levels, which is usual for the time of year. Although LNG spot rates are up by c.12% month-on-month. Year on year earnings are down slightly by c.1%. However, positive sentiment for this sector stemming from geopolitical uncertainties and an increased amount of LNG being delivered to EU ports to replace the Russian Gas formerly shipped by pipeline, in combination with a push towards newer, greener vessels, have ensured that newbuilding demand for the LNG sector has remained firm.
Notable new orders include 10 x Large LNG vessels of 174,000 CBM by ADNOC scheduled to be built at Samsung and Hanwha Ocean and set to be delivered in 2028, VV value 2.7 bn.
Source: Veson Nautical
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Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
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- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
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- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
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- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
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- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
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- New Zealand Coal & Carbon
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- Indian Energy Exchange, India
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- Economic Council, Georgia
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- McConnell Dowell - Australia
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- Altura Mining Limited, Indonesia
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- The State Trading Corporation of India Ltd
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- Ministry of Mines - Canada
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- Price Waterhouse Coopers - Russia
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- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
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- Mercator Lines Limited - India
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- PetroVietnam Power Coal Import and Supply Company
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- International Coal Ventures Pvt Ltd - India
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- Kumho Petrochemical, South Korea
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- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Planning Commission, India
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- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
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- Latin American Coal - Colombia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
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- Rashtriya Ispat Nigam Limited - India
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- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
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- Tamil Nadu electricity Board
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- Sakthi Sugars Limited - India
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- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Central Electricity Authority - India
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