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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, 16 June 20
SHALE SHOCKED - WOOD MACKENZIE
Capturing shut-ins in real time
Oil markets are searching for balance as the world reflects on the impact of the COVID-19 pandemic. ...
Sunday, 14 June 20
INDONESIAN COAL WAS STILL IN DEMAND; A 52,000-DWT SUPRAMAX FIXING DELIVERY CJK FOR A ROUND VOYAGE VIA INDONESIA AT $6,250 - BALTIC BRIEFING
Capesize
The Capesize market made new highs for the year this week after strong iron ore demand to the far east continued to develop in the mar ...
Friday, 12 June 20
CHINA CURBS COAL IMPORTS AFTER 5 MONTHS OF RECORD INFLOWS - SOURCES: REUTERS
China has stepped up customs checks for coal imports, leading to lengthy processing delays at ports, four sources familiar with the matter said, as ...
Friday, 12 June 20
COAL INDIA LIMITED SET FOR MARKETING DRIVE TO CREATE DEMAND - FINANCIAL EXPRESS
State-run miner Coal India (CIL), which is primarily focused on supplying coal to the power sector, is now reorienting its marketing to create dema ...
Friday, 12 June 20
MOODY'S REVISES BRENT OIL PRICE OUTLOOK TO $35/BARREL IN 2020 - TASS
Low oil prices are likely to exert the highest pressure on Iraq, Oman and Kuwait due to the limited space for the fiscal policy pursuit and higher ...
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- Electricity Authority, New Zealand
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- Miang Besar Coal Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
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- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
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- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- London Commodity Brokers - England
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
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- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Aditya Birla Group - India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Energy Development Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
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