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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, 09 June 20
BUNKER SUPPLY CONTRACTS - KEY CONSIDERATIONS FOR THE BUYER - GARD
KNOWLEDGE TO ELEVATE
Regardless of whether a buyer purchases fuel directly from physical suppliers or via brokers or traders and whether sale ...
Tuesday, 09 June 20
INDIA: COAL IMPORT DROPS BY 20% TO NEARLY 19 MILLION TONNES IN MAY, SAYS REPORT - HINDUSTAN TIMES
The country’s coal import dropped by 20 per cent to 18.93 million tonnes (MT) last month, industry data showed.
The government ...
Monday, 08 June 20
WOOD MACKENZIE: THE INDISPENSABLE OPEC+
Rumours of “the death of OPEC” have been circulating for almost as long as the organisation has existed. Just three years after the car ...
Monday, 08 June 20
CHINA'S COAL IMPORTS FALL NEARLY 20% IN MAY EVEN AS DEMAND RISES - REUTERS
China’s coal imports in May fell nearly 20% compared with a year earlier even as demand recovered at power plants and industrial users, custo ...
Monday, 08 June 20
JUNE 2020 INDONESIAN COAL PRICE REFERENCE HIT US$ 52.98 A TON, ITS LOWEST LEVEL SINCE AT LEAST AUGUST 2016
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
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- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Ambuja Cements Ltd - India
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Krishnapatnam Port Company Ltd. - India
- Commonwealth Bank - Australia
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Power Finance Corporation Ltd., India
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Rio Tinto Coal - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- The University of Queensland
- Latin American Coal - Colombia
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- MS Steel International - UAE
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Energy Link Ltd, New Zealand
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
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