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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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Monday, 08 January 24
SEABORNE TRADE REACHES 12.4BN TONNES - CLARKSONS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
Monday, 08 January 24
CAPESIZES START THE NEW YEAR ON POSITIVE NOTE - BALTIC EXCHANGE
Capesize
This week the capsize market has been marked by a mix of activities and challenges. Despite a slow start following the Christmas and N ...
Friday, 05 January 24
MORGAN STANLEY SEES LOWER OIL PRICES IN 2024 ON OVERSUPPLY CONCERNS - REUTERS
Morgan Stanley sees Brent crude prices anchored near $80 per barrel in the first half in 2024 before declining towards the end of the year as it ex ...
Friday, 05 January 24
INDIA'S COAL OUTPUT RISES NEARLY 11 PC IN DEC TO 92.87 MT - PTI
India’s coal production increased by 10.75 per cent to 92.87 million tonne in December 2023 as compared to the year-ago period, an official s ...
Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
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- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Jaiprakash Power Ventures ltd
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Heidelberg Cement - Germany
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Electricity Authority, New Zealand
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Borneo Indobara - Indonesia
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Kepco SPC Power Corporation, Philippines
- Commonwealth Bank - Australia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Binh Thuan Hamico - Vietnam
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Bhushan Steel Limited - India
- Sree Jayajothi Cements Limited - India
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