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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, 21 October 19
COAL TO PLAY SIGNIFICANT ROLE IN SOUTH AFRICA POWER MIX - MINISTER, REUTERS REPORTED
South Africa’s plans for additional power generation over the next decade will involve a variety of energy sources, with coal still playing a ...
Monday, 21 October 19
ULTRAMAX: IN ASIA, TRIPS FROM THE SINGAPORE AREA WERE PAYING BETWEEN $14,000 AND $16,000, DEPENDING ON THE VESSEL SIZE AND DURATION - BALTIC BRIEFING
Capesize
The market traded in a relatively stable supported manner in the Pacific this week while the Atlantic experienced weakening turbulence ...
Friday, 18 October 19
WHY CRUDE TANKER RATES JUST FELL (HALFWAY) BACK TO EARTH - FREIGHT WAVES
Panic drove crude-tanker rates up, very briefly, to mind-bogglingly high assessed levels of around $300,000 per day. Now, the fear factor has been ...
Friday, 18 October 19
SHORT TERM STRENGTH FOR OZ COMMODITIES - BALTIC BRIEFING
Volatility in the global commodity markets is not expected to unduly rattle Australia’s commodity outlook through 2020, but the 2021 picture ...
Friday, 18 October 19
SINGAPORE'S APEX TO LAUNCH LOW-SULFUR FUEL OIL CONTRACT AHEAD OF NEW SHIPPING RULES - REUTERS
Singapore-based Asia Pacific Exchange (APEX) will launch a low-sulfur fuel oil (LSFO) futures contract on Friday aimed at helping shipping and ener ...
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- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- London Commodity Brokers - England
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- VISA Power Limited - India
- Mjunction Services Limited - India
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Australian Coal Association
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- The University of Queensland
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
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