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