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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, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
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- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Planning Commission, India
- Independent Power Producers Association of India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Holcim Trading Pte Ltd - Singapore
- VISA Power Limited - India
- Wilmar Investment Holdings
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- White Energy Company Limited
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Star Paper Mills Limited - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- PTC India Limited - India
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