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