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