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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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Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
Sunday, 26 February 23
MAWANI AND JEDDAH CHAMBER SIGN AN AGREEMENT TO BUILD INTEGRATED LOGISTICS PARK
Press Release: The Saudi Ports Authority (Mawani) and Jeddah Chamber of Commerce and Industry have today inked an agreement to set up an integrated ...
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- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Bhatia International Limited - India
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Antam Resourcindo - Indonesia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- PTC India Limited - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- Riau Bara Harum - Indonesia
- Planning Commission, India
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
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