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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, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
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- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Economic Council, Georgia
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Australian Coal Association
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Mercuria Energy - Indonesia
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- The University of Queensland
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- The Treasury - Australian Government
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
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