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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, 18 March 20
SHIPPING MARKET INSIGHT - INTERMODAL
Despite we all knew about the Covid-19 weeks ago, few could realize the size of the thread until the last few days. The examples of China and Italy ...
Tuesday, 17 March 20
IT IS NOW UNQUESTIONABLE THAT 2020 WILL BE A MILESTONE YEAR FOR THE OIL MARKET, AS WELL AS THE WHOLE GLOBAL ECONOMY - ALLIED
It is now unquestionable that 2020 will be a milestone year for the oil market, as well as the whole global economy. The impact from the COVID-19 o ...
Tuesday, 17 March 20
PRELIMINARY FIELD EXPERIENCES ON THE EFFECTS OF LSFO AND VLSFO ON CYLINDER CONDITION - HANS JENSEN LUBRICATORS
It is now more than two months since the 0.5% sulphur cap entered into force, which have affected the operation of more than 70,000 vessels. As ant ...
Monday, 16 March 20
ULTRAMAX: S8 INDONESIA-INDIA AND S10 INDONESIA-CHINA ROUTES BOTH POSTED GAINS OF $1,412, AND $1,289 ON THE WEEK, TO CLOSE AT $5,575, AND $6,089 RESPECTIVELY - BALTIC BRIEFING
Capesize
The Capesize market came to work on Monday, with little expectation, or confidence, that the days ahead were going to bring anything o ...
Sunday, 15 March 20
CAPTIVE COAL OUTPUT RISES 19% IN APRIL-FEBRUARY - FINANCIAL EXPRESS
Coal production from captive mines in the first eleven months of the ongoing fiscal have increased by 18.8% year-on-year (y-o-y) to 51.7 million to ...
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- Rio Tinto Coal - Australia
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Xindia Steels Limited - India
- Marubeni Corporation - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Billiton Holdings Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Intertek Mineral Services - Indonesia
- New Zealand Coal & Carbon
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Alfred C Toepfer International GmbH - Germany
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- The University of Queensland
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Mintek Dendrill Indonesia
- Meenaskhi Energy Private Limited - India
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
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