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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, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
Thursday, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
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- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Bhatia International Limited - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- PowerSource Philippines DevCo
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Planning Commission, India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Central Electricity Authority - India
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- Latin American Coal - Colombia
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