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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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Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
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Showing 51 to 55 news of total 6871 |
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- Marubeni Corporation - India
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Sree Jayajothi Cements Limited - India
- Riau Bara Harum - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Eastern Coal Council - USA
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhoruka Overseas - Indonesia
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- The University of Queensland
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ambuja Cements Ltd - India
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