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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, 07 June 20
A SCRUBBER FITTED 61,000 ULTRAMAX WAS FIXED DELIVERY PHILIPPINES TRIP VIA SOUTH AFRICA REDELIVERY VIETNAM AT $9,500 - BALTIC BRIEFING
Capesize
The small flicker of hope at the beginning of this week has kindled a small fire under the Capesize market. At a paltry $3369 from the ...
Saturday, 06 June 20
KOREA SOUTH-EAST POWER CO INVITED COAL BIDS FOR MIN 5600 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 270,000 Tons (MT) min. 5600 NCV co ...
Friday, 05 June 20
COAL INDIA ESTIMATES PRODUCTION GROWTH BY OVERBURDEN REMOVAL - FINANCIAL EXPRESS
PSU miner Coal India (CIL) has now limited mining only to Overburden Removal (OBR) with falling demand of coal. The mining behemoth is now keeping ...
Friday, 05 June 20
U.S. SANCTIONS COMPLIANCE GUIDANCE RELEASED FOR THE GLOBAL MARITIME, ENERGY AND METALS SECTORS - AKIN GUMP
Key Points
On May 14, 2020, OFAC, the Department of State and the U.S. Coast Guard jointly released guidance for persons involved in the ma ...
Friday, 05 June 20
IN THE FIRST 5 MONTHS OF 2020 AUSTRALIA SHIPPED 6.8 MLN TONNES TO VIETNAM - BANCHERO COSTA
In the first 5 months of 2020, global seaborne coal trade declined by as much as -8% year-on-year, according to vessel tracking data from Ref ...
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- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- The University of Queensland
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- CNBM International Corporation - China
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Aditya Birla Group - India
- ICICI Bank Limited - India
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Lanco Infratech Ltd - India
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Romanian Commodities Exchange
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Savvy Resources Ltd - HongKong
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
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