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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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Thursday, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
Wednesday, 12 October 22
MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2022 has been remarkable.
Focusing only on Tankers and Bulkers, such v ...
Monday, 10 October 22
ENERGY TRANSITION BOOSTS GLOBAL LONG-TERM DEMAND FOR METALS - FITCH RATINGS
The energy transition will significantly increase demand for metals used in manufacturing of electric vehicles (EVs) and renewable power generation ...
Monday, 10 October 22
GLOBAL CEOS EXPECT IMPENDING RECESSION TO BE 'SHORT AND SHARP,' POLL SHOWS - CNBC
Global CEOs are anticipating a recession in the next 12 months, according to a new survey by professional services firm KPMG, which said more than ...
Thursday, 06 October 22
AUSTRALIA’S RESOURCES REVENUE TO HIT RECORD AMID UKRAINE CONFLICT - REUTERS
Australian resources and energy export earnings are forecast to jump 7% to a record A$450 billion ($290 billion) this fiscal year, bolstered by soa ...
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- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Thai Mozambique Logistica
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Gujarat Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Tamil Nadu electricity Board
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Sojitz Corporation - Japan
- Australian Coal Association
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Economic Council, Georgia
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