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