The Zhitong Finance App learned that Cathay Pacific Haitong released a research report saying that new ship prices continued to rise in October, and the cumulative number of orders received during the year remained high. The global green ship industrialization process continues to advance, and large ocean-going ships and core power equipment are progressing one after another. Alternative fuel ships were delivered one after another, Hengli Heavy Industries received another large order, and the fleet's demand for green renewal continued to be released.
Cathay Pacific Haitong's main views are as follows:
Prices of major ship models continued to rise in October, and orders for new ships continued to decline
In October, the new ship price index was 187.2, +1.26% year over month and +0.33% month on month, rising continuously in July; among them, the new container ship index was 117.1 (+0.1% month-on-month), bulk carriers were 178.1 (+0.4% month-on-month), gas carriers were 204.35 (+0.3% month-on-month), and tankers were 225.69 (flat month-on-month). In October, the used ship price index was 229.9, +22.1% year over month and +5.3% month on month. Among them, the used container ship index was 88.02 (+1.6% month-on-month), the bulk carrier was 238.07 (+1.9% month-on-month), and the tanker was 305.7 (+14.4% month-on-month). On the cost side, the price of 20mm steel sheets in China in October was 3472.4 yuan/ton, +0.6% year over year and -1.3% month on month. On the demand side, the world received 11.4 million DWT of new ships in October, -13.42% YoY, -55.51%; total order amount was US$11.7 billion, -17.5% YoY, -54.5%; total orders received this year were 238 million DWT, +29.7% YoY. ① Looking at the subregion, in October, China received orders of 7.35 million DWT (-32% YoY, -67.1% YoY), South Korea 2.45 million DWT (+73.7% YoY, -3.3% YoY), and Japan 450,000 DWT (-4.7% YoY, -32.1% YoY). ② By ship type, tankers signed 3.59 million DWT (-34% YoY, -3.2% YoY), 3.23 million DWT for bulk carriers (-35% YoY, -60.2% YoY), 2.93 million DWT for container ships (+30% YoY, -75.1%), LNG carriers (+1355.4% YoY, 3.1% YoY).
The commercialization process of green power ships continues to accelerate, alternative fuel ship models are being launched at an accelerated pace, and new breakthroughs have been made in the localization of marine power equipment
The global green ship industrialization process continues to advance, and large ocean-going ships and core power equipment are progressing one after another. The world's first 325,000-ton methanol dual-fuel ore tanker “Yuanhai Silk Road” was officially delivered and operated, marking the transition of the large-scale methanol dual-fuel ore ship from technical verification to the commercial operation stage; the world's first 210,000 ton ammonia dual-fuel bulk carrier “European Mining” completed delivery, driving ammonia fuel to achieve industrialization breakthroughs in the field of large ocean-going vessels; the 49,900 ton chemical/product tanker built by Guangzhou Shipbuilding International for CMB was delivered 5 months ahead of schedule. The ship reserved methanol dual-fuel drive function and received the first “Newly Built” in South China “Ship Carbon Footprint Compliance Statement”, reflecting green ship design and low carbon Collaborative manufacturing development.
Hengli Heavy Industries received another order for 52 oversized container ships
Hengli Heavy Industries announced that it has reached agreements with a number of internationally renowned liner companies to accept orders for 52 very large container ships, including 20 19,000 TEU, 12 22,000 TEU and 20 24,000 TEU ships, all using LNG dual-fuel power, dual-fuel engines and LNG fuel tanks independently developed and produced by supporting companies. Previously, the company's two 21,000 TEULNG dual-fuel container ships had successfully left the dock and launched.
data tracking
As of November 5, the Brent crude oil futures price was 99.32 US dollars/barrel, up 4.77 US dollars/barrel from the previous day; WTI crude oil futures were 91.20 US dollars/barrel, up 3.17 US dollars/barrel from the previous day. Shanghai crude oil futures price is 624.30 yuan/barrel. BDI was 2,740 points, up 46 points from the previous day, or 1.71% month-on-month. The average price of marine steel plates in major regions (tax included): 20mm: 3785 yuan/ton; 6mm: 4203 yuan/ton.
Risk warning: raw material price fluctuation risk, trade friction risk, new ship order fluctuation risk, etc.