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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 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
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- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Sojitz Corporation - Japan
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Mercator Lines Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Agrawal Coal Company - India
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Toyota Tsusho Corporation, Japan
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
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