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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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Wednesday, 17 June 20
MARKET INSIGHT - INTERMODAL
After experiencing record earnings during the first half of the year, the focus of headlines concerning the tanker market has shifted from the deve ...
Wednesday, 17 June 20
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CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.58 PCT - XINHUA
China Taiyuan coal transaction price index stood at 124.43 points Monday, up 0.58 percent week on week.
The index, released by China ...
Tuesday, 16 June 20
HIGHER IRON ORE PRICES OFFSET CORONAVIRUS-DRIVEN PRODUCTION RISK - FITCH RATINGS
Lower iron ore production in Brazil, resulting from rising coronavirus infections, should only marginally affect the cash flow of Vale and other gl ...
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- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Sarangani Energy Corporation, Philippines
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Deloitte Consulting - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Kepco SPC Power Corporation, Philippines
- New Zealand Coal & Carbon
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- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Singapore Mercantile Exchange
- Planning Commission, India
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- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
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