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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, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
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Showing 31 to 35 news of total 6871 |
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- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- GMR Energy Limited - India
- International Coal Ventures Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Interocean Group of Companies - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Bukit Baiduri Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
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