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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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Thursday, 05 March 20
SEABORNE COAL'S STRUGGLES IN ASIA ARE MORE THAN JUST CHINA CORONAVIRUS - REUTERS
Asia’s seaborne coal markets stumbled in February and it appears the coronavirus outbreak in China may dodge most of the blame, with the weak ...
Thursday, 05 March 20
INDONESIA'S BUKIT ASAM 2019 OUTPUT RISES 10.2% Y/Y - REUTERS
PT Bukit Asam, Indonesia’s state-owned coal miner, said on Wednesday its output in 2019 rose 10.2% to 29.1 million tonnes.
Coa ...
Thursday, 05 March 20
SEEING REMOTELY - IN SAFETY: BUREAU VERITAS PERFORMS FIRST SURVEY BY DRONE - BUREAU VERITAS
Bureau Veritas Marine & Offshore (BV), a world leader in testing, inspection and certification (TIC) services has completed its first survey by ...
Wednesday, 04 March 20
AN EPIDEMIC OF UNCERTAINTY - THE CORONAVIRUS AND FORCE MAJEURE - WFW
KNOWLEDGE TO ELEVATE
Do the effects of the coronavirus give rise to legitimate force majeure claims in connection with shipbuilding contracts ...
Wednesday, 04 March 20
MARKET INSIGHT - INTERMODAL
As it was expected, the whole world has been focusing on the spread of the Coronavirus, with the fast outbreak being primarily a massive humanitari ...
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- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Petrochimia International Co. Ltd.- Taiwan
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- The University of Queensland
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Australian Coal Association
- Deloitte Consulting - India
- Meenaskhi Energy Private Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Minerals Council of Australia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
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