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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, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
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- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
- Siam City Cement - Thailand
- Romanian Commodities Exchange
- PTC India Limited - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- The University of Queensland
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Meralco Power Generation, Philippines
- Independent Power Producers Association of India
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- White Energy Company Limited
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
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