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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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Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
Friday, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
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Showing 21 to 25 news of total 6871 |
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- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Economic Council, Georgia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- GMR Energy Limited - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Bhushan Steel Limited - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- Tamil Nadu electricity Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sree Jayajothi Cements Limited - India
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- White Energy Company Limited
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
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