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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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Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Standard Chartered Bank - UAE
- Rashtriya Ispat Nigam Limited - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Ministry of Finance - Indonesia
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- GVK Power & Infra Limited - India
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- The State Trading Corporation of India Ltd
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Alfred C Toepfer International GmbH - Germany
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Gujarat Sidhee Cement - India
- Parliament of New Zealand
- SMC Global Power, Philippines
- Romanian Commodities Exchange
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Deloitte Consulting - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
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