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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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Tuesday, 18 February 20
CORONAVIRUS AND ITS IMPACT ON YOUR CONTRACT - CAN YOU RELY ON 'FORCE MAJEURE'? - INCE
KNOWLEDGE TO ELEVATE
On 30 January 2020, the World Health Organization (WHO) declared that the outbreak of the Novel Coronavirus (officially t ...
Monday, 17 February 20
IMO-2020 SULPHUR CAP - ISSUES TO CONSIDER PRIOR TO THE IMPLEMENTATION OF THE CARRIAGE BAN ON 1 MARCH 2020 - STANDARD CLUB
With the IMO 2020 global sulphur cap now in force, members should bear in mind another significant date in relation to the ‘carriage ban&rsqu ...
Monday, 17 February 20
COVID-19: THE EFFECT OF THIS PUBLIC HEALTH EMERGENCY ON CHARTERPARTY TERMS - GARD
KNOWLEDGE TO ELEVATE
Is it useful to compare the COVID-19 with earlier disease outbreaks?
A comparison with the Ebola outbreak ...
Saturday, 15 February 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - REUTERS
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Saturday, 15 February 20
CHEN ZHIDA: NOVEL CORONAVIRUS - IMPLICATIONS FOR CHARTERPARTIES - SHIPOWNERS' CLUB
KNOWLEDGE TO ELEVATE
Last month, the Club issued a bulletin on the 2019 Novel Coronavirus (COVID-19) which explained the origin of the virus a ...
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- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- PTC India Limited - India
- Central Java Power - Indonesia
- The University of Queensland
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- PNOC Exploration Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- ICICI Bank Limited - India
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Australian Commodity Traders Exchange
- Cement Manufacturers Association - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
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