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