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