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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, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
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Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
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- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Carbofer General Trading SA - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Madhucon Powers Ltd - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Ministry of Finance - Indonesia
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Thai Mozambique Logistica
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- Australian Coal Association
- CNBM International Corporation - China
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Planning Commission, India
- Wood Mackenzie - Singapore
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
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