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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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Monday, 20 July 20
OIL PRICE OF $40-43 PER BARREL MORE OR LESS BALANCED - NOVAK | TASS
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after t ...
Monday, 20 July 20
SUPRAMAX: A 63,000 OPEN NORTH CHINA FIXING AN AUSTRALIAN ROUND IN THE LOW $10,000S - BALTIC BRIEFING
Capesize
The capesize market showed some resistance this week to recent losses as all routes saw a small uptick in value to end the week. With ...
Friday, 17 July 20
MISC MALAYSIA ENTERS INTO PURCHASE AGREEMENTS AND TIME CHARTER PARTIES FOR SIX VLECS
MISC Berhad (MISC) has entered into Memorandum of Agreements (MOAs) with six indirect wholly-owned subsidiaries of Zhejiang Satellite Petrochem ...
Wednesday, 15 July 20
HOW MEANINGFUL ARE SOME ESTIMATES FOR INDIA’S COAL CONSUMPTION DATA? - IEEFA
In recent years, BP's estimates for India have contained what appears to be a record of over-optimistic projections
BP’s a ...
Wednesday, 15 July 20
CHINA'S JUNE COAL IMPORTS FALL 6.7% Y/Y ON PORT CURBS - REUTERS
China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by trad ...
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- PTC India Limited - India
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- CNBM International Corporation - China
- Indika Energy - Indonesia
- The University of Queensland
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Barasentosa Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Baramulti Group, Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- Minerals Council of Australia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- London Commodity Brokers - England
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Karaikal Port Pvt Ltd - India
- Tata Chemicals Ltd - India
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