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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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Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
...
Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
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- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- PTC India Limited - India
- VISA Power Limited - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Videocon Industries ltd - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
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