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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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Tuesday, 23 May 23
CHINA COAL OUTPUT UP 4.5 PCT IN APRIL - XINHUA
China’s raw coal output posted stable expansion in April, official data showed.
The country produced 380 million tonnes of raw ...
Saturday, 20 May 23
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
In 2022, non-OPEC supply is estimated to have increased by 1.9 mb/d y-o-y. Out of this, US liquids production increased by 1.2 mb/d, mainly on the ...
Saturday, 20 May 23
GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels. In Jan-Apr 2023, total global seaborne coa ...
Saturday, 20 May 23
MARKET INSIGHT - INTERMODAL
India is one of the world's largest coal producers and one of the world's largest importers of coal. The country uses coal mainly for power ...
Sunday, 16 April 23
CHINA JUGGLES FOUR MAJOR ECONOMIC CHANGES IN 2023 - WOOD MACKENZIE
Change is afoot in China. Economic growth is slowing, while rising political tensions between China and the US, coupled with global supply chain re ...
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Showing 101 to 105 news of total 6871 |
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Ministry of Transport, Egypt
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Australian Coal Association
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Bangladesh Power Developement Board
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Jindal Steel & Power Ltd - India
- Bhatia International Limited - India
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Minerals Council of Australia
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
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