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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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Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
Monday, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mercator Lines Limited - India
- Economic Council, Georgia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- GMR Energy Limited - India
- Salva Resources Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Interocean Group of Companies - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Price Waterhouse Coopers - Russia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Planning Commission, India
- Sojitz Corporation - Japan
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Global Business Power Corporation, Philippines
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Ind-Barath Power Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
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