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