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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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- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Parliament of New Zealand
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Planning Commission, India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Posco Energy - South Korea
- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- Global Green Power PLC Corporation, Philippines
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Bharathi Cement Corporation - India
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Indonesian Coal Mining Association
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Simpson Spence & Young - Indonesia
- San Jose City I Power Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- The University of Queensland
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Wood Mackenzie - Singapore
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
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