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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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Saturday, 21 March 20
PANAMAX: 82,000DWT SHIP AGREED $4,250 FOR A COAL TRIP VIA INDONESIA REDELIVERY SOUTH CHINA - BALTIC BRIEFING
Capesize
The Capesize market made some headway this past week despite being buffeted by the global pandemic storm. With the market in a constan ...
Friday, 20 March 20
VOLATILITY TO INCREASE IN TANKER MARKET FOLLOWING OIL PRICE WAR - DREWRY
Crude oil prices plunged by more than a third in the past week after OPEC+ failed to agree on production cut as demand softened in the aftermath of ...
Friday, 20 March 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 ...
Friday, 20 March 20
OIL PRICES COULD FALL BELOW ZERO: ANALYST - FOX BUSINESS
Plunging oil prices could be headed a lot lower – possibly below zero, according to one Wall Street analyst.
West Texas Interm ...
Friday, 20 March 20
84% OF FEBRUARY BUNKER SALES IN SINGAPORE ARE LOW-SULPHUR FUELS - BIMCO
Low-sulphur fuels accounted for 84% of total February sales in Singapore, slightly up from 83% in January. The sale of low-sulphur fuel oil (LSFO) ...
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- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Dalmia Cement Bharat India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Meralco Power Generation, Philippines
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Therma Luzon, Inc, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PTC India Limited - India
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Agrawal Coal Company - India
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