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