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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Electricity Generating Authority of Thailand
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Vedanta Resources Plc - India
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Dalmia Cement Bharat India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Sical Logistics Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- The University of Queensland
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
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