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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, 05 August 20
SLUMP IN OIL REVENUE CHALLENGES MIDDLE EAST OIL EXPORTERS - INTERMODAL
The Covid-19 pandemic has had far-reaching consequences on the global capital markets. Despite the US government’s efforts for a quick and de ...
Tuesday, 04 August 20
KOEN INVITED BIDS FOR TOTAL 900K MT OF MIN 5600 NCV COAL FOR 3 YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 260,000 to 300,000 Tons (MT) min. ...
Tuesday, 04 August 20
THE WORLD’S FLEET OF COAL-FIRED POWER STATIONS HAS GOT SMALLER FOR THE FIRST TIME ON RECORD, WITH MORE CAPACITY RETIRED IN THE FIRST HALF OF 2020 THAN THE AMOUNT OPENED - IEA
This is according to the latest Global Coal Plant Tracker (GCPT) results by Global Energy Monitor (GEM), which we completed last month and report f ...
Monday, 03 August 20
U.S. COAL CONSUMPTION, WHICH HAS DECLINED SINCE ITS 2007 PEAK, FELL TO ITS LOWEST POINT IN APRIL 2020 - EIA
According to the U.S. Energy Information Administration’s (EIA) most recent Monthly Energy Review, the United States consumed 6.5 quadrillion ...
Monday, 03 August 20
LOW OIL PRICE AND CORONA VIRUS HIT SUB-SAHARAN AFRICA OIL PRODUCERS - FITCH RATINGS
The collapse in oil prices and the coronavirus shock is worsening the fiscal and external balances of sub-Saharan African oil producers, Fitch Rati ...
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- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- OPG Power Generation Pvt Ltd - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Tata Chemicals Ltd - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- Bhoruka Overseas - Indonesia
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Sakthi Sugars Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- Planning Commission, India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
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