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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, 21 May 20
KOMIPO INVITED BIDS FOR TOTAL 610000 MT OF LCV AND HCV COAL FOR 2H 2020
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) has Issued an International Tender for 130,000 mt of 5700 NCV coal an ...
Wednesday, 20 May 20
ADARO ENERGY BOOKED A 5% INCREASE IN COAL PRODUCTION VOLUME Y-O-Y IN 1Q2020
PT. Adaro Energy Tbk, Indonesia’s one of the largest coal miner, booked a 5% increase in coal production volume year-over-year in 1Q2020. The ...
Wednesday, 20 May 20
BRAZIL SOYBEAN EXPORTS HAVE BEEN SURGING THIS YEAR - BANCHERO COSTA
Brazil soybean exports have been surging this year, thanks to a combination of strong demand from China, a bumper crop, and favourable exchange rat ...
Wednesday, 20 May 20
MARKET INSIGHT
Seafarers keep maritime trade going so that the food, raw materials, energy and manufactured goods on which so many depend can continue moving arou ...
Tuesday, 19 May 20
AMENDMENT OF THE INDONESIAN MINING LAW: TYING UP LOOSE ENDS - UMBRA
KNOWLEDGE TO ELEVATE
The finalized draft of Law on the amendment of the Mining Law (Bill) was publicly released on 11 May 2020 and was then ap ...
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- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- The Treasury - Australian Government
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- McConnell Dowell - Australia
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- PNOC Exploration Corporation - Philippines
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sical Logistics Limited - India
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Central Electricity Authority - India
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