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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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Saturday, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
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- Electricity Authority, New Zealand
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- Sree Jayajothi Cements Limited - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
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- Planning Commission, India
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- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
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- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
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- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Cigading International Bulk Terminal - Indonesia
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- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
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- Ambuja Cements Ltd - India
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
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- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- Indian Energy Exchange, India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Chamber of Mines of South Africa
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
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- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
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- Parry Sugars Refinery, India
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- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Parliament of New Zealand
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- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
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