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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, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Malabar Cements Ltd - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- CIMB Investment Bank - Malaysia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Merrill Lynch Commodities Europe
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Australian Coal Association
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
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