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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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- Ind-Barath Power Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- Ambuja Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Attock Cement Pakistan Limited
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- MS Steel International - UAE
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Jaiprakash Power Ventures ltd
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Singapore Mercantile Exchange
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- CNBM International Corporation - China
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Orica Australia Pty. Ltd.
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
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