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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, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
Wednesday, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
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- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- PTC India Limited - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Orica Australia Pty. Ltd.
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhushan Steel Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Minerals Council of Australia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
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