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