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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Directorate Of Revenue Intelligence - India
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- London Commodity Brokers - England
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Posco Energy - South Korea
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Planning Commission, India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
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