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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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Thursday, 16 April 20
MARKET INSIGHT - INTERMODAL
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Saturday, 11 April 20
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Saturday, 11 April 20
KOEN POWER PLANTS INVITED BIDS FOR 1.5 -1.62 MMT OF STEAM COAL
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Friday, 10 April 20
INDIA'S BULKS SUPPLY CHAIN TAKES A HIT DURING LOCKDOWN - WOOD MACKENZIE
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- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- McConnell Dowell - Australia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Thiess Contractors Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Indika Energy - Indonesia
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- Kalimantan Lumbung Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Central Java Power - Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Romanian Commodities Exchange
- ICICI Bank Limited - India
- Parliament of New Zealand
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Barasentosa Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Planning Commission, India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
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