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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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Sunday, 16 April 23
CHINA'S MARCH COAL IMPORTS JUMP TO 3-YEAR HIGH - REUTERS
China’s coal imports surged in March to their highest in any month over the past three years as utilities increased purchases on expectations ...
Sunday, 16 April 23
OPEC KEEPS WORLD OIL DEMAND GROWTH OUTLOOK UNCHANGED
The OPEC Reference Basket (ORB) declined in March by $3.43, or 4.2%, m-o-m to average $78.45/b. The ICE Brent first-month contract fell by $4.33, o ...
Sunday, 16 April 23
CHEAPER SPOT LNG PRICES TEMPT SOME ASIAN BUYERS AMID SUPPLY GAINS - REUTERS
Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports i ...
Tuesday, 11 April 23
COAL USE CLIMBS WORLDWIDE DESPITE PROMISES TO SLASH IT - AAP
The burning of coal for electricity, cement, steel and other uses went up in 2022 despite global promises to phase down the fuel that is the bigges ...
Tuesday, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
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- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Bayan Resources Tbk. - Indonesia
- Thiess Contractors Indonesia
- The University of Queensland
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- India Bulls Power Limited - India
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Intertek Mineral Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- Planning Commission, India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Central Electricity Authority - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Jorong Barutama Greston.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
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