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Friday, 31 July 20
SHORT-TERM IMPACT ON THE CHEMICAL SHIPPING MARKET IF THE INDIA-CHINA DISPUTE ESCALATES - DREWRY
 Due to the India-China dispute, the threat of deteriorating trade relations between the two countries has become real. Meanwhile, we expect freight rates to decline in 3Q20 on routes from the Middle East/India to China
The India and China border dispute emerged after the military clash between the two countries on 15 June in Ladakh. The scuffle sparked a ‘boycott of Chinese products’ in India, raising concerns about the deterioration of trade between the two countries, with chemicals not being spared. However, if the disputes escalate, the impact on chemical trade is expected to be limited as only a few chemical products such as paraxylene, sulphuric acid, benzene, and ethylene glycol are traded between the two countries, with paraxylene being the largest chemical product exported from India to China.
Paraxylene is used as feedstock to produce purified terephthalic acid (PTA) and dimethyl terephthalate (DMT), which are used in the production of polyethylene terephthalate (PET) polymer for the production of polyester fibres. Meanwhile, demand for polyester will surge with the increasing development of PTA units in China, being one of the biggest importers of paraxylene. China sources its paraxylene requirements from South Korea, India, and Japan. India exported 414,000 tonnes of paraxylene to China in 2Q20, accounting for nearly 50% of Indian exports. Going forward, we expect a 40% fall in Indian paraxylene exports to China in 3Q20 due to the stressed environment. This will translate into a decline in paraxylene trade of about 124,000 tonnes on the Middle East/India to China route, thereby putting pressure on freight rates.
Apart from China, India also exports paraxylene to Indonesia, Malaysia, and to the US in a limited quantity. In 1Q20, before the pandemic, India traded 53% of its total paraxylene exports to China, 16.3% to Indonesia, 12.5% to Malaysia and a mere 6.3% to the US. It will be difficult for India to increase export volumes to these countries as demand is limited. Hence, the Indian export market for paraxylene will be affected in the remainder of 2020.
Indeed, it is clear that as a result of the dispute between the dragon and the elephant, there will be an oversupply of paraxylene in India in 3Q20. With high inventories of paraxylene in India, plants will be forced to cut operating rates. China, on the other hand, will have to source paraxylene from other countries as its demand is likely to pick up in 3Q20. Therefore, we expect freight rates to weaken on routes from the Middle East/India to China in 3Q20.
Source: Drewry
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Sunday, 30 August 20
PANAMAX - THIS WEEK THE DEMAND HAS PICKED UP, BUT THE TONNAGE LIST IS INCREASING DAY BY DAY - FEARNLEYS
Cape Size
More or less flat from previous week, with cape rates moving from US$ 19,500 to 18,900 on average. West Australia however being more ...
Saturday, 29 August 20
COAL INDIA'S FUEL SUPPLY TO POWER SECTOR DROPS ABOUT 20% IN APR-JUL: PTI
State-owned Coal India”s fuel supply to the power sector registered a decline of 19.5 per cent to 126.30 million tonnes (MT) in the April-Jul ...
Saturday, 29 August 20
SOUTH KOREAN BROKERAGE FIRM KOREA INVESTMENT & SECURITIES TO STOP ALL COAL BUSINESS - KOREA HERALD
South Korean brokerage firm Korea Investment & Securities has decided to stop its investments in coal, in line with the Moon Jae-in administrat ...
Thursday, 27 August 20
KOREAN GENCOS INVITED BIDS FOR TOTAL 985,000 TONS OF BITUMINOUS COAL FOR NOVEMBER 2020 LOADING
COALspot.com: Korea Midland Power Co., Ltd (KOMIPO) on behalf of EWP, KOSPO, KOSEP and KOWEPO has issued an international tender for total 985,000 ...
Thursday, 27 August 20
SOUTHEAST ASIAN NATIONS SET REGION-WIDE RENEWABLE ENERGY GOAL OF 23 PERCENT BY 2025 - ASEAN POST
The Association of Southeast Asian Nations (ASEAN) has set an ambitious target of securing 23 percent of its primary energy from renewable so ...
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- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- European Bulk Services B.V. - Netherlands
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Tata Chemicals Ltd - India
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Mercuria Energy - Indonesia
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Aditya Birla Group - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Australian Coal Association
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- New Zealand Coal & Carbon
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