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Tuesday, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
After more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk Area’ (HRA).
Notification of the removal of the HRA from 0001 UTC on 1 January 2023 by industry bodies was forwarded in a submission today, 22 August, to the International Maritime Organization (IMO) for the next meeting of the Maritime Safety Committee scheduled to start on 31 October 2022.
The removal of the HRA reflects a significantly improved piracy situation in the region, largely due to concerted counter-piracy efforts by many regional and international stakeholders. No piracy attacks against merchant ships have occurred off Somalia since 2018.
The IMO has been informed of the decision made by International Chamber of Shipping (ICS), BIMCO, International Marine Contractors Association (IMCA), INTERCARGO, INTERTANKO and Oil Companies International Marine Forum (OCIMF).
Measures enacted to secure the waters by military, political, civil society, and shipping industry, as well as Best Management Practices guidance, have reduced the threat of piracy in the Indian Ocean.
The removal of the HRA will come into effect at 0001 UTC on 1 January 2023, allowing charterers, shipowners and operators time to adapt to the changed threat from piracy. Best Management Practices 5 (BMP5) will continue to provide the necessary guidance for shipping to ensure threat and risk assessments are developed for every voyage to mitigate the risks presented by remaining security threats in the region. The shipping industry will continue to monitor and advise on maritime security threats to assist the safe transit of vessels and the seafarers who crew them. Pre-voyage threat and risk assessments should consider the latest maritime security information from organisations supporting the VRA.
The area being removed is the “High Risk Area” as shown on UKHO Chart Q6099. The Voluntary Reporting Area (VRA) administered by UKMTO has not changed. Ships entering the VRA are encouraged to report to the UKMTO and register with the Maritime Security Centre for the Horn of Africa (MSCHOA) in accordance with industry BMP (Best Management Practices).
The HRA IMO submission co-sponsors commented:
“This announcement is a testament to nearly 15 years of dedicated collaboration to reduce the threat of piracy in the Indian Ocean. Through a combination of efforts by military, political, civil society, and the shipping industry over the years, operators and seafarers are now able to operate with increased confidence in these waters.
“Thanks and gratitude is given to all the seafarers and offshore workers who have served during this time in safely maintaining global trade and operations.
“Threat and risk assessments should still be carried out, and best management practices followed to continue to mitigate the risks presented in a changeable and often complex and potentially threatening environment.”
Sources: BIMCO, ICS,IMCA, INTERCARGO, INTERTANKO, OCIMF
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Tuesday, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
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- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Planning Commission, India
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- PTC India Limited - India
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- The University of Queensland
- GN Power Mariveles Coal Plant, Philippines
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Mintek Dendrill Indonesia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Grasim Industreis Ltd - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
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