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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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Friday, 07 August 20
PEABODY'S $1.42 BILLION WRITE-DOWN CONCEDES COAL MINES HAVE LITTLE VALUE AND DIM FUTURE - IEEFA
Trouble at biggest mine in Powder River Basin speaks volumes about state of industry
Peabody Energy, the world’s largest priva ...
Thursday, 06 August 20
SUPRAMAX MARKET CONTINUED SIDEWAYS TREND, AND LITTLE INSPIRING NEWS APPEAR - FEARNLEYS
Capesize
There is presently a small correction in rates, but overall levels are up from previous week mainly due to increased demand in the Eas ...
Thursday, 06 August 20
KOREA SOUTH-EAST POWER INVITING BIDS FOR MIN 3,600-MAX 3,800 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) inviting bids for 80,000 Tons (MT) Min 3,600~Max 3,800 kcal/kg NCV coal f ...
Wednesday, 05 August 20
NO NEW MINING LICENSES - A REMINDER TO GOVERNORS IN INDONESIA - SSEK
Indonesia’s acting Director General of Mining and Coal (“DGMC”) has issued a letter to the country’s provincial Governors t ...
Wednesday, 05 August 20
AUGUST 2020 HBA HITTING ITS LOWEST LEVELS IN HISTORY
COALspot.com: The Indonesia Coal Price Reference for the month of August plunged 30.73% YoY, hitting its lowest levels in history and highlighting ...
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- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- London Commodity Brokers - England
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Parliament of New Zealand
- Marubeni Corporation - India
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- White Energy Company Limited
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Bhushan Steel Limited - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Africa Commodities Group - South Africa
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Australian Coal Association
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Straits Asia Resources Limited - Singapore
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
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