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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Africa Commodities Group - South Africa
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Tata Chemicals Ltd - India
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Independent Power Producers Association of India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- GAC Shipping (India) Pvt Ltd
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Parliament of New Zealand
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Pendopo Energi Batubara - Indonesia
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Oldendorff Carriers - Singapore
- Eastern Coal Council - USA
- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- The University of Queensland
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Therma Luzon, Inc, Philippines
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Indian Energy Exchange, India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Kalimantan Lumbung Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
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