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