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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Ministry of Transport, Egypt
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- VISA Power Limited - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Coal Association
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Planning Commission, India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Economic Council, Georgia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
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