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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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Wednesday, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
Monday, 19 June 23
DROUGHT-DEPLETED HYDROPOWER DRIVES CHINA TO TURN TO COAL - REUTERS
China has leant hard on coal-fired power plants as well as wind and solar generators to make up for a shortfall in hydroelectric generation as a re ...
Monday, 19 June 23
CHINA COAL OUTPUT UP 4.2 PCT IN MAY - XINHUA
China’s raw coal output posted steady growth in May, official data showed.
The country produced 390 million tonnes of raw coal ...
Wednesday, 24 May 23
AMMONIA-FUELLED BULK CARRIERS WITHIN FIVE YEARS - BALTIC EXCHANGE
Within five years, ships powered by clean ammonia could be a feature on the iron ore trade routes between West Australia and East Asia.
A study ...
Tuesday, 23 May 23
CHINA'S APRIL COAL OUTPUT LEAPS 11% ON YEAR, BUT DEMAND DOWNTURN LOOMS - REUTERS
China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensu ...
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- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
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- Global Business Power Corporation, Philippines
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- Kumho Petrochemical, South Korea
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- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- The Treasury - Australian Government
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- Gujarat Electricity Regulatory Commission - India
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- PowerSource Philippines DevCo
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- International Coal Ventures Pvt Ltd - India
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- GAC Shipping (India) Pvt Ltd
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- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
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- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Singapore Mercantile Exchange
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- Samtan Co., Ltd - South Korea
- Trasteel International SA, Italy
- Bulk Trading Sa - Switzerland
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- Mjunction Services Limited - India
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- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
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- Globalindo Alam Lestari - Indonesia
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- Independent Power Producers Association of India
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- Minerals Council of Australia
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- White Energy Company Limited
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- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Holcim Trading Pte Ltd - Singapore
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
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- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
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- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Indonesian Coal Mining Association
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