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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, 29 July 20
2019 U.S. COAL PRODUCTION FALLS TO ITS LOWEST LEVEL SINCE 1978 - EIA
In 2019, U.S. coal production totaled 706 million short tons (MMst), a 7% decrease from the 756 MMst mined in 2018. Last year’s production wa ...
Wednesday, 29 July 20
MARKET INSIGHT - INTERMODAL
The dry bulk sector is beginning to recover from reduced SnP activity recorded in the first quarter of 2020. The table below illustrates that appro ...
Tuesday, 28 July 20
DEUTSCHE BANK TO END GLOBAL BUSINESS ACTIVITIES IN COAL MINING BY 2025 - REUTERS
Deutsche Bank, in a revamp of its policies for fossil fuels, said on Monday that it would end business activities worldwide related to coal mining ...
Monday, 27 July 20
IEEFA ENERGY FINANCE CONFERENCE 2020: COAL, LNG, PETROCHEMICAL SECTORS FACE POOR OUTLOOK AND UPHILL BATTLE FOR INVESTORS
Fossil fuel industries were becoming less financially attractive even before the global coronavirus pandemic
Three major fossil fuel ...
Friday, 24 July 20
IPA: THERMAL COAL IMPORTS AT MAJOR PORTS DECLINE 35 PC TO 17.71 MT IN APR TO JUNE - ECONOMIC TIMES
These ports had handled 27.13 MT of thermal coal and 14.95 MT of coking coal in the April-June period of the previous financial year
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- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- The Treasury - Australian Government
- Borneo Indobara - Indonesia
- Singapore Mercantile Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Central Java Power - Indonesia
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vedanta Resources Plc - India
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Karaikal Port Pvt Ltd - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Bhatia International Limited - India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Thiess Contractors Indonesia
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Indian Energy Exchange, India
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Toyota Tsusho Corporation, Japan
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- SMC Global Power, Philippines
- Trasteel International SA, Italy
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