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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, 11 June 20
JAN-MAY, INDONESIA SHIPPED 175.15 MILLION TONS OF COAL TO ITS OVERSEAS BUYERS
Indonesia's coal production for the first 5 months of this year have reached 228 million tons. January – May 2020, Indonesia shipped US$ ...
Thursday, 11 June 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Wednesday, 10 June 20
OPEC+ CUTS EXTENSION TO ACCELERATE MARKET REBALANCING - FITCH RATINGS
Fitch Ratings-London-08 June 2020: The OPEC+ agreement to extend by one month record oil production cuts should accelerate market rebalancing, Fitc ...
Wednesday, 10 June 20
MARKET INSIGHT - INTERMODAL
In contrast to the economic projections of the past two years for the first half of 2020, the oil & gas industry and those involved in it faced ...
Wednesday, 10 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.19 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.71 points Monday, down 0.19 percent week on week.
The index, released by Chi ...
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- Jorong Barutama Greston.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Australian Commodity Traders Exchange
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- The University of Queensland
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- London Commodity Brokers - England
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Riau Bara Harum - Indonesia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Bukit Makmur.PT - Indonesia
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
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