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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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Wednesday, 25 March 20
CORONAVIRUS CRISIS IS CRUSHING GLOBAL GDP GROWTH - FITCH RATINGS
The coronavirus crisis is crushing global GDP growth according to Fitch Ratings in its latest quarterly “Global Economic Outlook” (GEO) ...
Wednesday, 25 March 20
MARKET INSIGHT - INTERMODAL
There is no doubt that the Covid-19 pandemic crisis is a world-shattering event that will change the world as we know it. Societies are facing chal ...
Wednesday, 25 March 20
INDONESIA TO CANCEL RULES REQUIRING DOMESTIC SHIPS FOR COAL, PALM EXPORTS : REFINITIV
Indonesia's government will revoke rules requiring exporters of coal and palm oil to use domestic shipping companies for shipments, Coordinatin ...
Wednesday, 25 March 20
JAN-FEB 2020, INDONESIA SHIPPED 64.5 MLN TONNES OF COAL, UP +3.4% YOY - BANCHERO COSTA
In the 12 months of calendar 2019, Indonesia exported 386.4 mln tonnes of coal, according to vessel tracking data from Refinitiv. This represents a ...
Tuesday, 24 March 20
MARKET ANALYSIS - ALLIED
As countries around the world struggle to take back control of the ongoing COVID-19 pandemic the global economy shuts down bit by bit, leaving only ...
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- Karbindo Abesyapradhi - Indoneisa
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Ministry of Finance - Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Parliament of New Zealand
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Chamber of Mines of South Africa
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
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