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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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Saturday, 21 March 20
PANAMAX: 82,000DWT SHIP AGREED $4,250 FOR A COAL TRIP VIA INDONESIA REDELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
The Capesize market made some headway this past week despite being buffeted by the global pandemic storm. With the market in a constan ...
Friday, 20 March 20
VOLATILITY TO INCREASE IN TANKER MARKET FOLLOWING OIL PRICE WAR - DREWRY
Crude oil prices plunged by more than a third in the past week after OPEC+ failed to agree on production cut as demand softened in the aftermath of ...
Friday, 20 March 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 ...
Friday, 20 March 20
OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
West Texas Interm ...
Friday, 20 March 20
84% OF FEBRUARY BUNKER SALES IN SINGAPORE ARE LOW-SULPHUR FUELS - BIMCO
Low-sulphur fuels accounted for 84% of total February sales in Singapore, slightly up from 83% in January. The sale of low-sulphur fuel oil (LSFO) ...
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- VISA Power Limited - India
- The University of Queensland
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- TeaM Sual Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Finance - Indonesia
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
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