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