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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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Saturday, 01 August 20
SHIP SHAPE - OUCH: FIS
Thursday afternoon saw a report that US GDP in Q2 shrank by 32.9%. Now this may have beaten expectations, but it’s a bit like saying that you ...
Saturday, 01 August 20
ASIA HOPE FOR LONG-TERM OIL DEMAND - BALTIC BRIEFING
Oil demand in Asia Pacific might be expected to plunge 1.8m barrels per day (bpd) this year, but there are still strong prospects for growth over t ...
Friday, 31 July 20
PANAMAX: THE PERIOD MARKET REMAINS QUIET WITH FEW FIXTURES REPORTED - FEARNLEYS
Capesize
After weeks of dropping rates, there are finally some resistance for the Capes. Pacific rounds improving to upper15,000s by the middle ...
Friday, 31 July 20
PANDEMIC SENDING SOUTH AFRICAN COAL INDUSTRY TO EARLIER GRAVE - IEEFA
Could South Africa’s coal export industry, one of the largest in the world, be about to take a severe hit from the coronavirus?
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Friday, 31 July 20
BOTSWANA PLANS MORE COAL-FIRED POWER AS AFRICAN SOLAR ACCELERATES - IEEFA
An African economic leader like Botswana should embrace solar to reduce subsidies and tariff hikes
As Sub-Saharan solar ambition has ...
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- Ministry of Mines - Canada
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Bharathi Cement Corporation - India
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
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