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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, 15 July 20
MARKET INSIGHT - INTERMODAL
The Covid-19 virus spread around the world has obviously impacted the global oil demand while the situation remains fluid. The overall constraint ...
Tuesday, 14 July 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.75 PCT - XINHUA
China Taiyuan coal transaction price index stood at 126.01 points Monday, up 0.75 percent week on week.
The index, released by China ...
Tuesday, 14 July 20
TURKEY - A CASE OF UNDECLARED BUNKER - GARD
KNOWLEDGE TO ELEVATE
Undeclared/excess bunkers can be considered a criminal act by Turkish customs officials with the ship's crew being ac ...
Monday, 13 July 20
PANAMAX: A TUMULTUOUS WEEK IN THE PANAMAX MARKET ENSURED ALL MARKETS GAINED VALUE ON THE WEEK - BALTIC BRIEFING
Capesize
This week witnessed the dreaded correction in the Capesize market, with the time charter average shedding almost 18 per cent to close ...
Friday, 10 July 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Karbindo Abesyapradhi - Indoneisa
- Makarim & Taira - Indonesia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Savvy Resources Ltd - HongKong
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Marubeni Corporation - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Posco Energy - South Korea
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Energy Development Corp, Philippines
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Interocean Group of Companies - India
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Mjunction Services Limited - India
- The State Trading Corporation of India Ltd
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
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