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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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Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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- Electricity Authority, New Zealand
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- The Treasury - Australian Government
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Jindal Steel & Power Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Africa Commodities Group - South Africa
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- Orica Mining Services - Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Trasteel International SA, Italy
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Heidelberg Cement - Germany
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- PTC India Limited - India
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
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