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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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Showing 51 to 55 news of total 6871 |
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- Marubeni Corporation - India
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- The University of Queensland
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Agrawal Coal Company - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
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