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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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Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
...
Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
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- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Price Waterhouse Coopers - Russia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- PTC India Limited - India
- Thiess Contractors Indonesia
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhushan Steel Limited - India
- The University of Queensland
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMC Global Power, Philippines
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
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