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