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