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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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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 ...
Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
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Showing 11 to 15 news of total 6846 |
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- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Energy Link Ltd, New Zealand
- Wood Mackenzie - Singapore
- Thai Mozambique Logistica
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- PetroVietnam Power Coal Import and Supply Company
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Miang Besar Coal Terminal - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Kohat Cement Company Ltd. - Pakistan
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Planning Commission, India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
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