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Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage while increasing transit time from 16 days to 32 days according to a report by LSEG Shipping Research.
These additional costs mostly accounts for extra fuel and increases costs for an Aframax tanker by 110%, while for a large container vessel it increases by 35% for a voyage between Asia to NW Europe.
Transits through Suez have been hugely affected following the Red Sea attacks. Average monthly transits through the Suez from June to November 2023 was seen at 1914. This dropped to 1672 in December, a 12.6% drop in transits and January month-to-date transits are assessed at 947 as of 22nd Jan, which translates to a 32.6% decline.
Daily container vessel traffic within the Red Sea have dropped by almost 60% since mid-December, with the larger container ships being the most responsive to avoid the region as their transits have declined by over 80%.
For those that elect to transit via the Red Sea, ships are also using AIS to broadcast deterrence messages in addition to standard security protocols.
Fabrice Maille, Global Head of Shipping at LSEG, comments: “As we saw with the grounding of the Ever Given in 2021, the importance of the Suez Canal and the Red Sea to global trade cannot be understated.
“The impact of this conflict is therefore considerable leading to very difficult decisions to be made regarding financial costs and security risks.
“Our customers are bringing together a vast array of data points from insurance premiums, average speed, and even AIS messages aimed at threats, in real-time, to mitigate these risks effectively. Their feedback is also helping us develop tools and solutions to help respond to future crises.”
Source: LSEG
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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 ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
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- Aboitiz Power Corporation - Philippines
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Neyveli Lignite Corporation Ltd, - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Orica Mining Services - Indonesia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Aditya Birla Group - India
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Transport, Egypt
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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