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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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Wednesday, 19 August 20
COAL INDIA TRADE UNIONS DEFER DAY-LONG STRIKE: PTI
The unions had decided to go on strike against the commercial mining and the proposed divestment or buyback of shares of Coal India Ltd (CIL).
...
Wednesday, 19 August 20
MISC MARKS ITS MAIDEN FORAY INTO MAJOR DEEP-WATER PROJECT IN LATIN AMERICA WITH MERO 3 FPSO
MISC Berhad (MISC) is pleased to announce its acceptance of Letter of Intent (LOI) from Petróleo Brasileiro S.A. (Petrobras) for the provisi ...
Wednesday, 19 August 20
MARKET INSIGHT - GEORGE LAIOS | INTERMODAL
Since the Covid-19 outbreak, governments and central banks around the globe have been using their ammunition and stimulus packages to keep their ec ...
Wednesday, 19 August 20
INDIA SAW A SHARP DECLINE IN ENERGY COAL IMPORTS IN JANUARY - JUNE 2020; –27 PER CENT YOY - BHP
Energy coal prices were weak in the second half of financial year 2020, BHP says in its Economic and Commodity Outlook FY20.
Accordi ...
Wednesday, 19 August 20
COAL PRICES TO REMAIN SUBDUED THIS FISCAL AMID WEAK DEMAND, HIGH INVENTORY - THE HINDU BUSINESS LINE
Coal offtake is improving gradually as lockdown eases
Coal prices are expected to remain subdued to weak demand and high inventory l ...
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- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Planning Commission, India
- Tamil Nadu electricity Board
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Mines - Canada
- Jindal Steel & Power Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Aboitiz Power Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- CIMB Investment Bank - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Neyveli Lignite Corporation Ltd, - India
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Vizag Seaport Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- The University of Queensland
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
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