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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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Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
Saturday, 25 March 23
ASIAN CRUDE PALM OIL WATCH 1Q23 - FITCH RATINGS
Malaysian benchmark crude palm oil (CPO) spot prices have averaged around USD915 per tonne (t) so far in 1Q23, sharply lower than the average of ar ...
Saturday, 25 March 23
INDONESIA’S COAL EXPORT INCREASED BY 21.0% YOY TO 388.4 MLN T IN 2022 - BANCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels. In the f ...
Saturday, 25 March 23
GLOBAL LNG-ASIA SPOT PRICES SLIP AS WEAK NORTHERN DEMAND REMAINS - REUTERS
Asian spot prices of liquefied natural gas (LNG) declined this week, falling to a 21-month low, as weak demand in the northeast Asia region continu ...
Wednesday, 22 March 23
OIL PRICE FALL SPECULATIVE, TO HIT $140 BY YEAR-END -ANDURAND: REUTERS
The recent fall in oil prices due to banking jitters is speculative and oil will hit $140 a barrel by the end of the year, hedge fund manager Pierr ...
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- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Power Finance Corporation Ltd., India
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Directorate General of MIneral and Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Kideco Jaya Agung - Indonesia
- VISA Power Limited - India
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Leighton Contractors Pty Ltd - Australia
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Posco Energy - South Korea
- CIMB Investment Bank - Malaysia
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Oldendorff Carriers - Singapore
- CNBM International Corporation - China
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Medco Energi Mining Internasional
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Indian Energy Exchange, India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- The University of Queensland
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- PTC India Limited - India
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Wilmar Investment Holdings
- Intertek Mineral Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Sindya Power Generating Company Private Ltd
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
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