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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, 17 April 20
OPEC BRACES FOR OIL MARKET'S "HISTORIC SHOCK"
OPEC released its much anticipated April monthly report.
Crude Oil Price Movements
Crude oil prices collapsed in March 2020, rec ...
Friday, 17 April 20
SAUDI ARABIA'S MAY 2020 OSPS FOR CRUDE EXPORTS BODE WELL FOR ASIAN REFINERS - WOOD MACKENZIE
On 13 April, Saudi Arabia announced the Official Selling Prices (OSPs) for its May crude oil exports. The new OSPs speak volumes about Saudi Arabia ...
Friday, 17 April 20
SEABORNE COAL PRICES UNDER PRESSURE AS DEMAND SOFTENS IN CHINA, INDIA - CLYDE RUSSELL
Worrying signs are emerging for coal exporters to the world’s biggest markets in Asia, as top buyers China and India move to favour domestic ...
Thursday, 16 April 20
THERMAL POWER SECTOR FACES BLEAK SCENARIO POST-COVID SITUATION - THE HINDU BUSINESS LINE
The centre should take a fresh look at coal-energy value chain as the sector tops the chart on loan defaults.
Covid-19 may have serv ...
Thursday, 16 April 20
CHINA'S BENCHMARK POWER COAL PRICE FALLS 5 YUAN PER TONNE - XINHUA
China’s benchmark power coal price fell by 5 yuan (about 70 U.S. cents) per tonne during the past week.
The Bohai-Rim Steam-Co ...
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- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Indian Energy Exchange, India
- Planning Commission, India
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- LBH Netherlands Bv - Netherlands
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- SMC Global Power, Philippines
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Salva Resources Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Iligan Light & Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
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