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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, 04 May 20
U.S. ESTIMATED COAL PRODUCTION FALL 39.4% YEAR ON YEAR IN THE WEEK ENDED APRIL 25 - EIA
Estimated U.S. coal production totaled about 8.6 million short tons (MMst) For the week ended April 25, 2020, says EIA in its latest report.
E ...
Saturday, 02 May 20
SUPRAMAX: ASIA, STRONGER NUMBERS - A 55.000-DWT WAS FIXED FROM INDONESIA TO CHINA IN THE MID $6,000S - BALTIC BRIEFING
Capesize
A tepid week for the big ships, as macro concerns continued to weigh heavily on the index. All of the major voyage routes lost value, ...
Friday, 01 May 20
KOSPO INVITED OFFER FOR 5600 NCV COAL FOR Q3 2020 LOADING
COALspot.com: Korea Southern Power Co., Ltd. (KOSPO) has issued an International tender for 260,000 Metric Tons (MT) steam coal for Boryeong Power ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY ABOUT 8% IN 2020,THE LARGEST DROP SINCE WORLD WAR II - IEA
We expect global coal demand to fall by about 8% in 2020, the largest drop since World War II, with coal use declining in virtually every sector of ...
Friday, 01 May 20
GLOBAL COAL DEMAND TO FALL BY 8% IN Q1 2020 RELATIVE TO Q1 2019 - IEA
We expect global coal demand to fall by 8% in Q1 2020 relative to Q1 2019. This significant drop was driven by lower demand in the electricity sect ...
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- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Deloitte Consulting - India
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- PTC India Limited - India
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Bangladesh Power Developement Board
- MS Steel International - UAE
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Planning Commission, India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Mercuria Energy - Indonesia
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Posco Energy - South Korea
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- European Bulk Services B.V. - Netherlands
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
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