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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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- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Planning Commission, India
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Romanian Commodities Exchange
- Kartika Selabumi Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- ASAPP Information Group - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
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