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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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Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Friday, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
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Showing 61 to 65 news of total 6871 |
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- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- The University of Queensland
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Australian Coal Association
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Deloitte Consulting - India
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Maharashtra Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Romanian Commodities Exchange
- Parliament of New Zealand
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
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