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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, 12 February 20
MARKET INSIGHT - INTERMODAL
The recent Coronavirus outbreak in China has led to a global health emergency by World Health Organization and it is yet to be seen how long the ph ...
Wednesday, 12 February 20
CHANGES IN LNG MARKET COULD UNDERCUT PLANS FOR NEW JAPANESE COAL PLANTS - CLYDE RUSSELL
Reuters: Clyde Russell
The collapse in the spot price of liquefied natural gas (LNG) in Asia is a short-term phenomenon that may wel ...
Wednesday, 12 February 20
THE SHIPPING INDUSTRY SEES FREIGHT MARKETS IN A COMPLETE STATE OF COLLAPSE AS DEMAND GETS PARALYZED DUE TO CORONAVIRUS OUTBREAK - ALLIED
With China and the world still trying to contain the effects and come to terms with the Wuhan novel coronavirus outbreak, the shipping industry see ...
Wednesday, 12 February 20
WORLD STEEL PRODUCTION IN 2019 - BANCHERO COSTA
In a worrying development, global steel production slowed down considerably in the fourth quarter of 2019. In the final 3 months of 2019, total cru ...
Sunday, 09 February 20
SUPRAMAX: THE ASIAN ARENA STRUGGLED, A 50,000DWT SHIP FIXING A COAL RUN FROM EAST KALIMANTAN TO INDIA AT $2,000 - THE BALTIC BRIEFING
Capesize
The Capesize market endured another dreadful week of calamitous rate level falls, as the usual season low Q1 period combined with rece ...
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- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- GMR Energy Limited - India
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Australian Coal Association
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
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