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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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- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- The University of Queensland
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Eastern Coal Council - USA
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Kaltim Prima Coal - Indonesia
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Australian Coal Association
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Central Electricity Authority - India
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
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