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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, 19 February 20
AS OCEAN TEMPERATURES RISE, SHIPOWNERS LOOK FOR WAYS TO COPE - WARTSILA
The world is heating up, and its oceans are no exception. According to the International Panel on Climate Change (IPCC), the oceans absorb the majo ...
Wednesday, 19 February 20
MARKET INSIGHT - INTERMODAL
The coronavirus outbreak is estimated to negatively affect global economy by at least EUR400bn this year, representing around the 0.4% of global GD ...
Tuesday, 18 February 20
WEEKLY MARKET ANALYSIS - ALLIED
Under such poorly performing market circumstances, many usually take the historical approach, in order to better understand and further analyze the ...
Tuesday, 18 February 20
ADARO SHIPPED 27 PERCENT OF ITS TOTAL COAL PRODUCTION IN 2019 TO INDIA AND CHINA
PT Adaro Energy Tbk (AE) produced 58.03 Mt of coal from PT Adaro Indonesia (AI), Balangan Coal Companies and Adaro Me ...
Tuesday, 18 February 20
ADARO REMAINS POSITIVE ON THE LONG-TERM FUNDAMENTALS OF COAL MARKET SUPPORTED BY THE SOUTHEAST ASIA AND SOUTH ASIA REGION
The global seaborne thermal coal market in 2019 was faced with macro and industry challenges which pushed international coa ...
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- PNOC Exploration Corporation - Philippines
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Therma Luzon, Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Orica Mining Services - Indonesia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Tamil Nadu electricity Board
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
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