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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, 12 August 20
THE COAL MARKET IN ITALY - ASSOCARBONI
Italy, which in 2019 reported a decrease in thermal coal imports, with a volume of 7,5 million tons (-32% compared to 11 million tons in 2018), whi ...
Wednesday, 12 August 20
U.S. COAL PRODUCTION IN 2020 WILL DECREASE BY 29% FROM 2019 LEVELS TO 502 MMST - EIA
U.S. coal consumption, which dropped to its lowest point since April, totaled 95 MMst in the second quarter of 2020.
EIA expec ...
Tuesday, 11 August 20
BHP COAL ASSETS WORTH A BILLION LESS THAN JUST TWO YEARS AGO - IEEFA
Another global investor, the UK’s biggest public pension fund NEST, has withdrawn funds from BHP this week because the company is profiting & ...
Monday, 10 August 20
COAL IMPORT DROPS 43% IN JULY OWING TO HIGH STOCKPILE AT PITHEADS, PLANTS - PTI
“The market participants seem to have adopted a wait and watch approach and are currently looking for a direction. We do not expect to see an ...
Saturday, 08 August 20
GLOBAL COAL POWER PUZZLE - BALTIC EXCHANGE
Global Energy Monitor’s latest Global Coal Plant Tracker has put another nail in the coffin for the coal-carrying fleet with its finding that ...
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- Marubeni Corporation - India
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- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
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- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
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- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
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- Bank of Tokyo Mitsubishi UFJ Ltd
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- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Directorate General of MIneral and Coal - Indonesia
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- Karaikal Port Pvt Ltd - India
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- London Commodity Brokers - England
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- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
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- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Central Electricity Authority - India
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Australian Coal Association
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
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- Jaiprakash Power Ventures ltd
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- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
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- Parliament of New Zealand
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Eastern Coal Council - USA
- The Treasury - Australian Government
- White Energy Company Limited
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