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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, 04 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 ...
Thursday, 04 June 20
DON'T FORGET THE REAL PURPOSE OF RISK ASSESSMENTS - GARD
KNOWLEDGE TO ELEVATE
When doing a risk assessment, we often overcomplicate it and forget its real purpose.
Rather than ensuring that crew ...
Wednesday, 03 June 20
MARKET INSIGHT - INTERMODAL
Once again shipping is about to venture into uncharted waters and before the challenges of the past decade are forgotten, shipowners will have to o ...
Tuesday, 02 June 20
KOSPO LOOKING FOR 80000 MT OF 4200 NCV COAL FOR JULY
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 80,000 Metric Tons (MT) 4200 NCV coal for 12 - 21, July ...
Tuesday, 02 June 20
INDONESIAN COAL MINER BUMI RESOURCES Q1 OUTPUT UP 5% - REUTERS
Indonesia’s largest coal miner Bumi Resources posted a 5% increase in first-quarter output at 20.8 million tonnes, the company said in a stat ...
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- GMR Energy Limited - India
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Posco Energy - South Korea
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Billiton Holdings Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- New Zealand Coal & Carbon
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
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