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Tuesday, 12 May 20
IN THE FIRST 4 MONTHS OF 2020, SOUTH KOREA IMPORTED 46.6 MLN TONNES OF CRUDE OIL BY SEA, A NET DECLINE OF 14.1% YOY - BC
 South Korea is certainly one of the countries which has handled better the current Covid-19 crisis. In the first week of May 2020, new cases of the virus are down to almost zero, and the country is restarting, with life getting back to “almost” normal. Nevertheless, the effects on the Korean economy have been significant, and this is reflected in the raw material imports this year.
In the first 4 months of 2020, South Korea imported 46.6 mln tonnes of crude oil by sea, according to vessel tracking data from Refinitiv.
This represents a net decline of -14.1% y-o-y, compared to the 54.3 mln tonnes imported in the same four-month period of 2019, although only down -5.3% from the 49.2 mln tonnes imported in the same period of 2018 says Banchero Costa Research in its latest report.
The research report further noted that, on a single-month basis, January 2020 was down -17.0% year-on-year to 11.1 mln tonnes, whilst February 2020 showed a -9.7% y-o-y decline to 12.6 mln tonnes. In March 2020 arrivals decreased again to 11.5 mln tonnes, down -8.5% m-o-m from February, and down -6.7% year-on-year. April 2020 recorded again 11.5 mln tonnes, a modest -0.4% decrease m-o-m from March, but a significant -21.9% y-o-y drop from 14.7 mln tonnes last year.
However, this comparison is quite misleading, as April 2019 was an exceptional month and an all-time record. South Korea is one of the largest consumers of oil in the world, relying almost exclusively on imports as a result of its minimal production.
South Korean crude oil imports rose by +10.6% in 2015 to 137.8 mln tonnes, then +4.4% in 2016 to 143.9 mln t in 2016, before peaking at 151.5 mln t in 2017. Imports in 2018 declined slightly by -0.3% to 151.0 mln t, and then increased anaemically by +0.7% y-o-y to 152.1 mln t in 2019, says the latest report.
Banchero Costa Research report further said, South Korea has always depended heavily on imports from the Middle East, to such an extent that starting from 2014 the government, in order to promote diversification, granted freight incentives to South Korean oil refiners buying crude oil from other regions. Still, in the first 4 months of 2020, as much as 63% of South Korea’s crude imports were shipped from the Arabian Gulf.
Shipments from Saudi Arabia to South Korea decreased by -11.2% y-o-y in Jan-Apr 2020, to 12.1 mln tonnes, from 13.6 mln tonnes in the same period last year. Saudi Arabia accounts now for 26% of South Korea’s total crude imports.
Arrivals from Kuwait also declined by -15.6% y-o-y in Jan-Apr 2020, to 6.1 mln tonnes, from 7.2 mln tonnes in the same period last year. Kuwait accounts for 13% of South Korea’s total crude imports.
Shipments from Iraq to South Korea crashed by -37.6% y-o-y in Jan-Apr 2020, to 4.1 mln t, from 6.5 mln t in the same period last year. Iraq now has a share of 9% of South Korea’s total crude imports.
Washington’s decision to re-impose sanctions against Iran from November 2018 had a huge impact on South Korean crude oil supply patterns. As a result, imports from Iran, at 4.4 mln tonnes in Jan-Apr 2018 and 3.8 mln tonnes in Jan-Apr 2019, came down to zero this year.
Imports from the United States, on the other hand, have surged. They were up +15% y-o-y in Jan-Apr 2020 to 7.0 mln tonnes, from 5.9 mln tonnes in the same period last year, and from just 1.0 mln tonnes in Jan-Apr 2018.
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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- The University of Queensland
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Xindia Steels Limited - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Simpson Spence & Young - Indonesia
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Singapore Mercantile Exchange
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
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