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