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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- South Luzon Thermal Energy Corporation
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Georgia Ports Authority, United States
- Jindal Steel & Power Ltd - India
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Planning Commission, India
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ind-Barath Power Infra Limited - India
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Indonesian Coal Mining Association
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Orica Australia Pty. Ltd.
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- New Zealand Coal & Carbon
- Eastern Coal Council - USA
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
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