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