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