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