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