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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, 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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- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Sakthi Sugars Limited - India
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Timah Investasi Mineral - Indoneisa
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Australian Coal Association
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Parliament of New Zealand
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Ceylon Electricity Board - Sri Lanka
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- SMG Consultants - Indonesia
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