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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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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- The University of Queensland
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- PTC India Limited - India
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Altura Mining Limited, Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Australian Coal Association
- Toyota Tsusho Corporation, Japan
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Commonwealth Bank - Australia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- Interocean Group of Companies - India
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