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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, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
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Showing 31 to 35 news of total 6871 |
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- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Australian Coal Association
- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Marubeni Corporation - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Global Business Power Corporation, Philippines
- Vedanta Resources Plc - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- The Treasury - Australian Government
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
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