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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, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
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- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Bhatia International Limited - India
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
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