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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, 02 June 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX DOWN 0.86 PCT - XINHUA
China Taiyuan coal transaction price index stood at 123.95 points Monday, down 0.86 percent week on week.
The index, released by Chi ...
Tuesday, 02 June 20
THE HISTORIC DECLINE OF US COAL - WOOD MACKENZIE
The first commercial power plant in the US was Thomas Edison’s coal-fired Pearl Street station in lower Manhattan, which started operating in ...
Tuesday, 02 June 20
COAL INDIA'S MAY SALES DRIVEN SHARPLY LOWER BY SLUMP IN POWER DEMAND - REUTER
Coal India’s sales fell 23.3% in May as utilities refrained from purchases amid record stockpiles and tepid demand because of a nationwide lo ...
Tuesday, 02 June 20
TUAH TURANGGA AGUNG RECORDED 4.54 MILLION TONS OF COAL SALES IN THE FIRST FOUR MONTHS OF 2020
PT United Tractors Tbk through its subsidiary, PT Tuah Turangga Agung recorded 4.54 million tons of coal sales in the first four months of 2020, up ...
Tuesday, 02 June 20
SOURING SINO-AUSTRALIA TRADE RELATIONS - BALTIC EXCHANGE
Cooling relations between the commodity powerhouses of China and Australia may point to trade troubles ahead when the world emerges from the Covid- ...
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- Central Java Power - Indonesia
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- Posco Energy - South Korea
- Australian Commodity Traders Exchange
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- Bukit Makmur.PT - Indonesia
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- IHS Mccloskey Coal Group - USA
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- London Commodity Brokers - England
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- Karbindo Abesyapradhi - Indoneisa
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- CNBM International Corporation - China
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- Indonesian Coal Mining Association
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- IEA Clean Coal Centre - UK
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- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Global Coal Blending Company Limited - Australia
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- Chamber of Mines of South Africa
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- Minerals Council of Australia
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- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Standard Chartered Bank - UAE
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- New Zealand Coal & Carbon
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- Siam City Cement PLC, Thailand
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
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- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
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- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
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- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
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- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- White Energy Company Limited
- PTC India Limited - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
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- Latin American Coal - Colombia
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- Altura Mining Limited, Indonesia
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- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Cement Manufacturers Association - India
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- Deloitte Consulting - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
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- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
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- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Pendopo Energi Batubara - Indonesia
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- Tata Chemicals Ltd - India
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
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- Petrochimia International Co. Ltd.- Taiwan
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- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
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- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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- Meralco Power Generation, Philippines
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- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- The State Trading Corporation of India Ltd
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- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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- Indika Energy - Indonesia
- SMG Consultants - Indonesia
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- Xindia Steels Limited - India
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
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- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
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