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