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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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Tuesday, 07 April 20
COAL INDIA'S DISPATCHES DROP, OUTPUT INCREASES - THE HINDU
India’s largest coal producer Coal India Ltd. (CIL) has seen a 10% fall in dispatches in March 2020 due to a sharp fall in demand from the po ...
Tuesday, 07 April 20
CORONAVIRUS AND LOCKDOWNS DRAG DOWN THE INDONESIAN COAL PRICE REFERENCE IN APRIL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down the benchmark price of the Indonesian ther ...
Monday, 06 April 20
A 52,000DWT SHIP FIXING DELIVERY SINGAPORE TRIP, VIA INDONESIA, REDELIVERY TAIWAN, AT $3,100 - BALTIC BRIEFING
Capesize
The Capesize market this past week looks to have come off life support and found some improved sentiment. The week began rather ordina ...
Monday, 06 April 20
INDIA'S 21-DAY LOCKDOWN - IMPACT ON COMMODITIES? - WOOD MACKENZIE
India is under a three-week lockdown from 25 March, to contain the spread of the coronavirus outbreak. Wood Mackenzie analysts discuss what this me ...
Friday, 03 April 20
CHINA'S BENCHMARK POWER COAL PRICE DROPS SLIGHTLY - XINHUA
China’s benchmark power coal price dropped slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge ...
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- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Parry Sugars Refinery, India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Star Paper Mills Limited - India
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- White Energy Company Limited
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- CNBM International Corporation - China
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Interocean Group of Companies - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- GMR Energy Limited - India
- Independent Power Producers Association of India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
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