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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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Saturday, 25 April 20
KOREA SOUTH-EAST POWER CO. INVITED BIDS FOR 780K - 900K MT OF 5600 NCV COAL FOR JULY TO OCTOBER 2020 LOADING
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 780,000~900,000 Metric Tons (MT) s ...
Saturday, 25 April 20
SEAFARER MENTAL WELLBEING DURING THE COVID-19 PANDEMIC - STANDARD CLUB
KNOWLEDGE TO ELEVATE
COVID-19 has forced many parts of the world to enforce a lockdown in a bid to flatten the curve in terms of transmissions ...
Friday, 24 April 20
KOMIPO INVITED BIDS FOR 5700 NAR COAL FOR JUNE & JULY LOADING
COALspot.com: South Korea’s Korea Midland Power Co. Ltd. (KOMIPO) Has Issued An International Tender For 260,000 Metric Tons (MT) Steam Coal ...
Friday, 24 April 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 24 April 20
COAL INDIA TO PRODUCE 710 MT COAL - MINISTER OF COAL AND MINES
Coal India Limited (CIL) will produce 710 million tonnes (MT) of coal and company’s coal off take target will also remain at710 MT for this f ...
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- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Essar Steel Hazira Ltd - India
- Bayan Resources Tbk. - Indonesia
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- AsiaOL BioFuels Corp., Philippines
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- SN Aboitiz Power Inc, Philippines
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Planning Commission, India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Australian Coal Association
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Georgia Ports Authority, United States
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Posco Energy - South Korea
- Eastern Energy - Thailand
- Central Electricity Authority - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
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