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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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Showing 36 to 40 news of total 6871 |
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- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- The Treasury - Australian Government
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Economic Council, Georgia
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Simpson Spence & Young - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- Siam City Cement - Thailand
- Ceylon Electricity Board - Sri Lanka
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Minerals Council of Australia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Parliament of New Zealand
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
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