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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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Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
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- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- India Bulls Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Altura Mining Limited, Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Siam City Cement - Thailand
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- PTC India Limited - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- South Luzon Thermal Energy Corporation
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
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