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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 $932,905 USD per voyage while increasing transit time from 16 days to 32 days according to a report by LSEG Shipping Research.
These additional costs mostly accounts for extra fuel and increases costs for an Aframax tanker by 110%, while for a large container vessel it increases by 35% for a voyage between Asia to NW Europe.
Transits through Suez have been hugely affected following the Red Sea attacks. Average monthly transits through the Suez from June to November 2023 was seen at 1914. This dropped to 1672 in December, a 12.6% drop in transits and January month-to-date transits are assessed at 947 as of 22nd Jan, which translates to a 32.6% decline.
Daily container vessel traffic within the Red Sea have dropped by almost 60% since mid-December, with the larger container ships being the most responsive to avoid the region as their transits have declined by over 80%.
For those that elect to transit via the Red Sea, ships are also using AIS to broadcast deterrence messages in addition to standard security protocols.
Fabrice Maille, Global Head of Shipping at LSEG, comments: “As we saw with the grounding of the Ever Given in 2021, the importance of the Suez Canal and the Red Sea to global trade cannot be understated.
“The impact of this conflict is therefore considerable leading to very difficult decisions to be made regarding financial costs and security risks.
“Our customers are bringing together a vast array of data points from insurance premiums, average speed, and even AIS messages aimed at threats, in real-time, to mitigate these risks effectively. Their feedback is also helping us develop tools and solutions to help respond to future crises.”
Source: LSEG
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Tuesday, 29 March 22
MEMR OF INDONESIA HAS FIXED COAL PRICE AT US$ 90 PER TONNE FOR DOMESTIC INDUSTRIES EXCEPT SMELTER INDUSTRIES; FOR PLN USD 70 IS APPLICABLE
Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif has set the selling price of coal for domestic, industrial except metal processing an ...
Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
...
Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
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- ASAPP Information Group - India
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Minerals Council of Australia
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Rio Tinto Coal - Australia
- The University of Queensland
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Larsen & Toubro Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
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