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