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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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Monday, 03 February 20
KOWEPO INVITING BIDS FOR 2.46 MILLION TONS OF MIN.5700 AND MIN.5600 NCV COAL
COALspot.com: South Korea’s Korea Western Power Co., Ltd. (KOWEPO) has issued an international tender for total 2,460,000 tons of (Sub) Bitum ...
Sunday, 02 February 20
NOVEL CORONAVIRUS OUTBREAK IN CHINA - STANDARD CLUB
Members will be aware of the recent novel coronavirus outbreak in China, which has now been declared a global emergency by the World Health Organis ...
Sunday, 02 February 20
SUPRAMAX: A 52,000DWT SHIP WAS FIXED BASIS DELIVERY SOUTH KALIMANTAN TRIP TO INDIA, AT $6,000 - BALTIC BRIEFING
Capesize
The week proved conspicuous for all the wrong reasons. This was the week when the Baltic Capesize Index (BCI) turned negative, closing ...
Saturday, 01 February 20
50 MILLION PEOPLE QUARANTINED IN CHINA TO CONTAIN SPREAD OF CORONAVIRUS - HOW DOES IT AFFECT SHIPPING? - BIMCO
The outbreak of the novel coronavirus, declared a global health emergency by the WHO, has caused massive uncertainty across the global markets with ...
Saturday, 01 February 20
THERMAL COAL MARKETS: 5 TRENDS TO WATCH OUT FOR IN 2020 - MINING REVIEW
The seaborne thermal coal market entered the year challenged by low priced LNG in the Atlantic and rapidly increasing supply in the Pacific.
&n ...
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- Coal and Oil Company - UAE
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- Merrill Lynch Commodities Europe
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- Global Business Power Corporation, Philippines
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- Uttam Galva Steels Limited - India
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- Sakthi Sugars Limited - India
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- Gujarat Mineral Development Corp Ltd - India
- Orica Mining Services - Indonesia
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Energy Link Ltd, New Zealand
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- PNOC Exploration Corporation - Philippines
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- Petrochimia International Co. Ltd.- Taiwan
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- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Ministry of Finance - Indonesia
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- Price Waterhouse Coopers - Russia
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- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- Eastern Coal Council - USA
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- Thai Mozambique Logistica
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
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- Aditya Birla Group - India
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- Kepco SPC Power Corporation, Philippines
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- Indo Tambangraya Megah - Indonesia
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- Energy Development Corp, Philippines
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- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
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- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
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- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- VISA Power Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
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- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
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- Maheswari Brothers Coal Limited - India
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Marubeni Corporation - India
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- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
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- Lanco Infratech Ltd - India
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- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Anglo American - United Kingdom
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
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