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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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Monday, 18 May 20
TAKING ADVANTAGE OF VIRUS DISTRACTION - BALTIC EXCHANGE
As the industry grapples to deal with exceptional Covid-19-related challenges, a deeper threat is coming to the fore. At this time of crisis, more ...
Monday, 18 May 20
THERMAL COAL SPOT PRICE TUMBLES 25 PER CENT, PUTTING PRESSURE ON SOME PRODUCERS - ABC RURAL
The spot price for thermal coal has fallen 25 per cent per cent in the past month with one leading analyst saying it is because of a reduction in d ...
Monday, 18 May 20
CHINA'S COAL OUTPUT UP 1.3 PCT IN JANUARY-APRIL: XINHUA
Output of raw coal in China rose 1.3 percent year on year to 1.15 billion tonnes in the first four months this year, official data showed.
&nbs ...
Sunday, 17 May 20
A 55,000 OPEN ILIGAN FIXING AT $6,500 VIA INDONESIA REDELIVERY INDIA - BALTIC BRIEFING
Capesize
A precipitous fall in the market this week had the Capesize 5TC shedding over 50 per cent in value. A small rebound at the end of the ...
Friday, 15 May 20
CHINA'S COAL CONSUMPTION TO FALL Y/Y IN SECOND QUARTER, IMPROVEMENT EXPECTED IN SECOND HALF - INDUSTRY BODY: REUTERS
China’s coal consumption is expected to decline in the second quarter from a year earlier, but will see an improvement in the second half of ...
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- Manunggal Multi Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
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- IHS Mccloskey Coal Group - USA
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- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Minerals Council of Australia
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- Ind-Barath Power Infra Limited - India
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- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
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- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
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- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
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- Cigading International Bulk Terminal - Indonesia
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- Antam Resourcindo - Indonesia
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- Agrawal Coal Company - India
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- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Parliament of New Zealand
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- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
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- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Planning Commission, India
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- The University of Queensland
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Meralco Power Generation, Philippines
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Sojitz Corporation - Japan
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
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