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Wednesday, 04 March 20
CHINA IMPORTED 76.8 MLN TONNES OF CRUDE OIL FOR JANUARY & FEBRUARY 2020; UP 3.4% YOY - REFINITIV | BC
 The COVID-19 crisis has been gripping China already for almost two months now. It’s having a huge negative impact on the economy, and this is starting to show also in the trade figures.
In the first 2 months of 2020, China imported 76.8 mln tonnes of crude oil by sea, according to vessel tracking data from Refinitiv. This represents an increase of +3.4% y-o-y, compared to the 74.2 mln tonnes imported in the same two-month period of 2019. On a single-month basis, January showed a +2.5% year-on-year increase to 41.4 mln tonnes, whilst February showed a +4.6% increase year-on-year to 35.4 mln tonnes.
However, single month comparisons are misleading due to the shifting date of the Chinese New Year (which were in February last year but in January this year) – hence it makes more sense to look at the two months combined.
Whilst the data still shows positive growth in imports of +3.4% in the first two months of this year, this is a significant slowdown from the +18.6% growth seen in the same period last year, and also from the +5.2% y-o-y growth posted in 2018.
We now expect even more disappointing figures in March. During February 2020, sailings from the Arabian Gulf towards China were down almost by 10% year-on-year. Looking back at last year, China’s total seaborne imports of crude oil reached 447.6 mln tonnes in the 12 months of 2019, according to vessel tracking data from Refinitiv.
This represents an increase of +9.8% year-on-year, compared to the 407.7 mln tonnes imported in the whole of 2018. Last year, 47 percent of all crude shipments to China were sourced from the Arabian Gulf. Imports from Saudi Arabia increased by +47.5% year-on-year in 2019 to 77.9 mln tonnes. Saudi Arabia by itself accounts for 17% of all crude importsto China last year. Shipments from Iraq to China increased by +20.7% year-on-year in 2019 to 49.8 mln tonnes. Iraq accounts for 11% of China’s crude import volumes. Imports from Kuwait decreased by -4.4% y-o-y to 21.9 mln tonnes, however shipments from the UAE increased by +9.8% to 13.5 y-o-y. The biggest fall, of course, was from Iran ; volumes went down by -53.5% y-o-y to just 15.1 mln tonnes, down from 32.6 mln tonnes in 2018. Imports from Venezuela fell by -23.5% y-o-y in 2019 to just 10.4 mln tonnes. This however was more than compensated by a +39.9% increase in shipments from Brazil to 34.9 mln tonnes.
Shipments from West Africa to China increased by +6.2% in 2019 to 74.2 mln tonnes. West Africa accounted for 17% of all crude imports to China last year. The largest African exporter was Angola, with 44.7 mln tonnes, +0.9% y-o-y. Exports from Gabon almost doubled in 2019 to 6.9 mln tonnes, from 3.6 mln tonnes in 2018. Volumes from the Republic of Congo went down -12.0% to 11.7 mln tonnes, but from Nigeria almost trebled to 2.1 mln tonnes. Seaborne exports from Russia to China increased by +14.8 year-onyear to 29.4 mln tonnes. Naturally, the vast majority, 23.5 mln tonnes, came from Kozmino in Far East Russia, and 1.8 mln tonnes from Sakhalin. However, 2.9 mln tonnes were shipped all the way from Novorossiysk, and 0.6 mln tonnes from Primorsk! Volumes from the USA, unsurprisingly, crashed by -56.5% y-o-y to just 5.3 mln tonnes in 2019.
Source: Banchero Costa
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Friday, 03 April 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
Wednesday, 01 April 20
TRADERS SCRAMBLE TO SELL CHEAP CRUDE CARGOES AS GLUT GROWS - REUTERS
Oil traders across the globe are offering cargoes far in advance as rapidly vanishing demand drives key physical crude prices to multi-decade lows, ...
Wednesday, 01 April 20
MARKET INSIGHT - INTERMODAL
There is an old, allegedly Chinese, saying suggesting that living in “interesting” times usually refers to times of trouble. The latest ...
Tuesday, 31 March 20
FREIGHT MARKET: DRY BULKERS - SPOT MARKET 23-29 MARCH 2020
Capesize
The rebound in freight rates resumed this past week, with rates man-aging to post further gains by week’s end. The BCI is in negat ...
Tuesday, 31 March 20
DRY BULK: Q1 HAS BEEN THE WORST QUARTER NOTED FOR MORE THAN 3 YEARS NOW - ALLIED RESEARCH
At this point, the Covid-19 pandemic seems to be monopolizing all market (as well as all other) discussions across the world and any market insight ...
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- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Planning Commission, India
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- The University of Queensland
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Alfred C Toepfer International GmbH - Germany
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Bhoruka Overseas - Indonesia
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- LBH Netherlands Bv - Netherlands
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Heidelberg Cement - Germany
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