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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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- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- PowerSource Philippines DevCo
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Madhucon Powers Ltd - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Bayan Resources Tbk. - Indonesia
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- London Commodity Brokers - England
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Meralco Power Generation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- The University of Queensland
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- GMR Energy Limited - India
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Maheswari Brothers Coal Limited - India
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Agrawal Coal Company - India
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