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