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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, 18 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
Despite we all knew about the Covid-19 weeks ago, few could realize the size of the thread until the last few days. The examples of China and Italy ...
Tuesday, 17 March 20
IT IS NOW UNQUESTIONABLE THAT 2020 WILL BE A MILESTONE YEAR FOR THE OIL MARKET, AS WELL AS THE WHOLE GLOBAL ECONOMY - ALLIED
It is now unquestionable that 2020 will be a milestone year for the oil market, as well as the whole global economy. The impact from the COVID-19 o ...
Tuesday, 17 March 20
PRELIMINARY FIELD EXPERIENCES ON THE EFFECTS OF LSFO AND VLSFO ON CYLINDER CONDITION - HANS JENSEN LUBRICATORS
It is now more than two months since the 0.5% sulphur cap entered into force, which have affected the operation of more than 70,000 vessels. As ant ...
Monday, 16 March 20
ULTRAMAX: S8 INDONESIA-INDIA AND S10 INDONESIA-CHINA ROUTES BOTH POSTED GAINS OF $1,412, AND $1,289 ON THE WEEK, TO CLOSE AT $5,575, AND $6,089 RESPECTIVELY - BALTIC BRIEFING
Capesize
The Capesize market came to work on Monday, with little expectation, or confidence, that the days ahead were going to bring anything o ...
Sunday, 15 March 20
CAPTIVE COAL OUTPUT RISES 19% IN APRIL-FEBRUARY - FINANCIAL EXPRESS
Coal production from captive mines in the first eleven months of the ongoing fiscal have increased by 18.8% year-on-year (y-o-y) to 51.7 million to ...
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- SMG Consultants - Indonesia
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Coalindo Energy - Indonesia
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Independent Power Producers Association of India
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- Marubeni Corporation - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Central Java Power - Indonesia
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Jaiprakash Power Ventures ltd
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Ministry of Transport, Egypt
- Larsen & Toubro Limited - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
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