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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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Thursday, 05 March 20
SEABORNE COAL'S STRUGGLES IN ASIA ARE MORE THAN JUST CHINA CORONAVIRUS - REUTERS
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
Thursday, 05 March 20
INDONESIA'S BUKIT ASAM 2019 OUTPUT RISES 10.2% Y/Y - REUTERS
PT Bukit Asam, Indonesia’s state-owned coal miner, said on Wednesday its output in 2019 rose 10.2% to 29.1 million tonnes.
Coa ...
Thursday, 05 March 20
SEEING REMOTELY - IN SAFETY: BUREAU VERITAS PERFORMS FIRST SURVEY BY DRONE - BUREAU VERITAS
Bureau Veritas Marine & Offshore (BV), a world leader in testing, inspection and certification (TIC) services has completed its first survey by ...
Wednesday, 04 March 20
AN EPIDEMIC OF UNCERTAINTY - THE CORONAVIRUS AND FORCE MAJEURE - WFW
KNOWLEDGE TO ELEVATE
Do the effects of the coronavirus give rise to legitimate force majeure claims in connection with shipbuilding contracts ...
Wednesday, 04 March 20
MARKET INSIGHT - INTERMODAL
As it was expected, the whole world has been focusing on the spread of the Coronavirus, with the fast outbreak being primarily a massive humanitari ...
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- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Global Coal Blending Company Limited - Australia
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Indika Energy - Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Indian Oil Corporation Limited
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- The University of Queensland
- Tamil Nadu electricity Board
- Savvy Resources Ltd - HongKong
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Australian Coal Association
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
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