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Wednesday, 04 March 20
CHINA IMPORTED 76.8 MLN TONNES OF CRUDE OIL FOR JANUARY & FEBRUARY 2020; UP 3.4% YOY - REFINITIV | BC
 The COVID-19 crisis has been gripping China already for almost two months now. It’s having a huge negative impact on the economy, and this is starting to show also in the trade figures.
In the first 2 months of 2020, China imported 76.8 mln tonnes of crude oil by sea, according to vessel tracking data from Refinitiv. This represents an increase of +3.4% y-o-y, compared to the 74.2 mln tonnes imported in the same two-month period of 2019. On a single-month basis, January showed a +2.5% year-on-year increase to 41.4 mln tonnes, whilst February showed a +4.6% increase year-on-year to 35.4 mln tonnes.
However, single month comparisons are misleading due to the shifting date of the Chinese New Year (which were in February last year but in January this year) – hence it makes more sense to look at the two months combined.
Whilst the data still shows positive growth in imports of +3.4% in the first two months of this year, this is a significant slowdown from the +18.6% growth seen in the same period last year, and also from the +5.2% y-o-y growth posted in 2018.
We now expect even more disappointing figures in March. During February 2020, sailings from the Arabian Gulf towards China were down almost by 10% year-on-year. Looking back at last year, China’s total seaborne imports of crude oil reached 447.6 mln tonnes in the 12 months of 2019, according to vessel tracking data from Refinitiv.
This represents an increase of +9.8% year-on-year, compared to the 407.7 mln tonnes imported in the whole of 2018. Last year, 47 percent of all crude shipments to China were sourced from the Arabian Gulf. Imports from Saudi Arabia increased by +47.5% year-on-year in 2019 to 77.9 mln tonnes. Saudi Arabia by itself accounts for 17% of all crude importsto China last year. Shipments from Iraq to China increased by +20.7% year-on-year in 2019 to 49.8 mln tonnes. Iraq accounts for 11% of China’s crude import volumes. Imports from Kuwait decreased by -4.4% y-o-y to 21.9 mln tonnes, however shipments from the UAE increased by +9.8% to 13.5 y-o-y. The biggest fall, of course, was from Iran ; volumes went down by -53.5% y-o-y to just 15.1 mln tonnes, down from 32.6 mln tonnes in 2018. Imports from Venezuela fell by -23.5% y-o-y in 2019 to just 10.4 mln tonnes. This however was more than compensated by a +39.9% increase in shipments from Brazil to 34.9 mln tonnes.
Shipments from West Africa to China increased by +6.2% in 2019 to 74.2 mln tonnes. West Africa accounted for 17% of all crude imports to China last year. The largest African exporter was Angola, with 44.7 mln tonnes, +0.9% y-o-y. Exports from Gabon almost doubled in 2019 to 6.9 mln tonnes, from 3.6 mln tonnes in 2018. Volumes from the Republic of Congo went down -12.0% to 11.7 mln tonnes, but from Nigeria almost trebled to 2.1 mln tonnes. Seaborne exports from Russia to China increased by +14.8 year-onyear to 29.4 mln tonnes. Naturally, the vast majority, 23.5 mln tonnes, came from Kozmino in Far East Russia, and 1.8 mln tonnes from Sakhalin. However, 2.9 mln tonnes were shipped all the way from Novorossiysk, and 0.6 mln tonnes from Primorsk! Volumes from the USA, unsurprisingly, crashed by -56.5% y-o-y to just 5.3 mln tonnes in 2019.
Source: Banchero Costa
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Wednesday, 25 March 20
CORONAVIRUS CRISIS IS CRUSHING GLOBAL GDP GROWTH - FITCH RATINGS
The coronavirus crisis is crushing global GDP growth according to Fitch Ratings in its latest quarterly “Global Economic Outlook” (GEO) ...
Wednesday, 25 March 20
MARKET INSIGHT - INTERMODAL
There is no doubt that the Covid-19 pandemic crisis is a world-shattering event that will change the world as we know it. Societies are facing chal ...
Wednesday, 25 March 20
INDONESIA TO CANCEL RULES REQUIRING DOMESTIC SHIPS FOR COAL, PALM EXPORTS : REFINITIV
Indonesia's government will revoke rules requiring exporters of coal and palm oil to use domestic shipping companies for shipments, Coordinatin ...
Wednesday, 25 March 20
JAN-FEB 2020, INDONESIA SHIPPED 64.5 MLN TONNES OF COAL, UP +3.4% YOY - BANCHERO COSTA
In the 12 months of calendar 2019, Indonesia exported 386.4 mln tonnes of coal, according to vessel tracking data from Refinitiv. This represents a ...
Tuesday, 24 March 20
MARKET ANALYSIS - ALLIED
As countries around the world struggle to take back control of the ongoing COVID-19 pandemic the global economy shuts down bit by bit, leaving only ...
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- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Mines - Canada
- Chettinad Cement Corporation Ltd - India
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- London Commodity Brokers - England
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Sarangani Energy Corporation, Philippines
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Ambuja Cements Ltd - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Semirara Mining Corp, Philippines
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- MS Steel International - UAE
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
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