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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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Wednesday, 27 May 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.94 PCT - XINHUA
China Taiyuan coal transaction price index stood at 125.03 points Monday, up 0.94 percent week on week.
The index, released by China ...
Monday, 25 May 20
NON-OPEC OIL SUPPLY DEVELOPMENT - OPEC
Non-OPEC oil supply continued to increase by 2.0 mb/d in 2019, driven by US shale production, which rose by 1.7 mb/d, amounting to 84% of total non ...
Sunday, 24 May 20
A 63,000 FIXED DELIVERY VIETNAM TRIP VIA INDONESIA REDELIVERY KOSICHANG AT $8,500 - BALTIC BRIEFING
Capesize
After a week of bounce momentum the market appears to have stalled out once again. The Capesize 5TC has more than doubled since last F ...
Saturday, 23 May 20
COLOMBIA COAL OUTPUT DOWN 7.2% IN Q1 ON LOW PRICES, CORONAVIRUS LOCKDOWN - REUTERS
Coal production in Colombia, the world’s fifth-largest coal exporter, fell 7.2% in the first quarter because of low prices and coronavirus qu ...
Saturday, 23 May 20
EWP INVITES BIDS FOR 840,000 METRIC TONS OF MIN 5700 NAR COAL
COALspot.com: South Korea’s Korea East-West Power Co. Ltd (EWP) has Issued an International Tender for total Max 840,000 Metric Tons of min 5 ...
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- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Merrill Lynch Commodities Europe
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Bhushan Steel Limited - India
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Sical Logistics Limited - India
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- PTC India Limited - India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Metalloyd Limited - United Kingdom
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Larsen & Toubro Limited - India
- Ministry of Transport, Egypt
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
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