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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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Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Australian Coal Association
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Bhushan Steel Limited - India
- White Energy Company Limited
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- The University of Queensland
- Sojitz Corporation - Japan
- The Treasury - Australian Government
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