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