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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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Saturday, 15 February 20
AFRAMAX: A MORE POSITIVE ATTITUDE EXISTED IN THIS SECTOR WITH RATES IMPROVING ON ALL ROUTES - BALTIC BRIEFING
VLCC
The market in the Middle East was unmoved this week, with Chinese refiners continuing to slow imports, allied with the impact of the Coron ...
Saturday, 15 February 20
A 56,000DWT VESSEL WAS CONCLUDED BASIS DELIVERY SINGAPORE VIA INDONESIA REDELIVERY CHINA IN THE LOW $6,000S - BALTIC BRIEFING
Capesize
Riding the downward momentum of the previous week, the market was always going to be hard pressed to make any sort of revival. With mu ...
Saturday, 15 February 20
U.S. COAL PRODUCTION WILL TOTAL 595 MMST IN 2020, DOWN 14% FROM 2019 - EIA
EIA forecasts that U.S. coal production will total 595 million short tons (MMst) in 2020, down 95 MMst (14%) from 2019.
Lower ...
Friday, 14 February 20
WHY THE WORLD ECONOMY WILL BE FACING CHINA'S CORONAVIRUS FOR A LONG TIME - CNBC
Everywhere we look we see the headlines and commentators talking about the coronavirus and its impact on tourism, trade and investment between Chin ...
Friday, 14 February 20
KOWEPO INVITED BIDS FOR 1.275 MILLION TONS OF MIN. 5,600 NCV COAL
COALspot.com: Korea Western Power Co. Ltd (KOWEPO). as a representative of five Korean Gencos has issued an international tender for total 1,275,00 ...
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- TNB Fuel Sdn Bhd - Malaysia
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
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- McConnell Dowell - Australia
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
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- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Indonesian Coal Mining Association
- White Energy Company Limited
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
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- Billiton Holdings Pty Ltd - Australia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
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- The University of Queensland
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- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
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