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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, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
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- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Makarim & Taira - Indonesia
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Planning Commission, India
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Minerals Council of Australia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Meralco Power Generation, Philippines
- Bharathi Cement Corporation - India
- Ceylon Electricity Board - Sri Lanka
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- PTC India Limited - India
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Tata Chemicals Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- The University of Queensland
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
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