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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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Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
Wednesday, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
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- Simpson Spence & Young - Indonesia
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- Eastern Coal Council - USA
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- Global Business Power Corporation, Philippines
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- Bharathi Cement Corporation - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- International Coal Ventures Pvt Ltd - India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
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- Power Finance Corporation Ltd., India
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- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
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- Indian Oil Corporation Limited
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- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
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