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