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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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Friday, 24 April 20
CHINA COAL PRODUCER YANZHOU COAL POSTS 9.6 PCT RISE IN 2019 NET PROFIT - XINHUA
China’s major coal producer Yanzhou Coal Mining Co., Ltd. said Thursday that its net profit saw a 9.6 percent rise in 2019.
Th ...
Tuesday, 21 April 20
INDONESIA ACCOUNTS FOR 19% OF JAPAN'S TOTAL COAL IMPORTS - BANCHERO COSTA
Coal trade in Asia is proving remarkably resilient this year, despite the global economic impact from COVID-19.
We have seen China&r ...
Tuesday, 21 April 20
COVID-19: CHARTERPARTY MATTERS FOR SHIPOWNERS - SKULD
KNOWLEDGE TO ELEVATE
Whilst the plight of cruise ships, stranded off shore with sick passengers and crew, may be dominating media headlines, t ...
Monday, 20 April 20
SUPRAMAX: A 52,000DWT SHIP FIXING AN INDONESIA COAL RUN TO CHINA AT $4400 - BALTIC BRIEFING
Capesize
This week was the strongest period seen for the Capesize market in several months. All routes globally succumbed to improved sentiment ...
Friday, 17 April 20
PANDEMIC TO BRING ASIA'S 2020 GROWTH TO HALT FOR 1ST TIME IN 60 YEARS - IMF: REUTERS
Asia’s economic growth this year will grind to a halt for the first time in 60 years, as the coronavirus crisis takes an “unprecedented ...
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- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Planning Commission, India
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Electricity Generating Authority of Thailand
- Eastern Coal Council - USA
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- PNOC Exploration Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- The University of Queensland
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Minerals Council of Australia
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Central Java Power - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- McConnell Dowell - Australia
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
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