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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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- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Altura Mining Limited, Indonesia
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Minerals Council of Australia
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Posco Energy - South Korea
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bharathi Cement Corporation - India
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Intertek Mineral Services - Indonesia
- MS Steel International - UAE
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Planning Commission, India
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Indogreen Group - Indonesia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- White Energy Company Limited
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