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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, 06 July 20
INDONESIAN COAL PRICE REFERENCE IN FREE FALL
COALspot.com: The Ministry of Energy and Mineral Resources of the Republic of Indonesia has revised down again the benchmark price of Indonesian th ...
Monday, 06 July 20
SUPRAMAX: A 58,000-DWT FIXING DELIVERY VIETNAM TRIP VIA INDONESIA RE-DELIVERY WEST INDIA IN THE LOW $4,000S
Capesize
The Capesize market continues to go from strength to strength, as rates reach highs not seen since September last year. The rally is p ...
Thursday, 02 July 20
PRIVATE COAL MINING MAY SEE WEAK INVESTOR SENTIMENT: ICRA - LIVEMINT
The prospects of commercial coal mining in India may be dimmer than initially expected because of the expected shift in India’s energy mix fr ...
Wednesday, 01 July 20
THERMAL COAL OPTIONS TRADING LAUNCHED IN CHINA'S ZHENGZHOU - XINHUA
Thermal coal options started trading on the Zhengzhou Commodity Exchange (ZCE) in central China’s Henan Province Tuesday.
It i ...
Wednesday, 01 July 20
COLOMBIA'S COAL EXPORT VOLUMES HAVE STEADILY DECLINED IN RECENT YEARS - BANCHERO COSTA
Colombia is the world’s fifth largest seaborne exporter of coal, coming after Australia, Indonesia, Russia and the USA.
Export ...
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- Anglo American - United Kingdom
- Wilmar Investment Holdings
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- Kohat Cement Company Ltd. - Pakistan
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- White Energy Company Limited
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- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
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- Karaikal Port Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
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- Gujarat Sidhee Cement - India
- Bukit Asam (Persero) Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
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- Mercuria Energy - Indonesia
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- Semirara Mining Corp, Philippines
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- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Thai Mozambique Logistica
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- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
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- Planning Commission, India
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
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- Directorate General of MIneral and Coal - Indonesia
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- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
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- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- The University of Queensland
- Mjunction Services Limited - India
- Rashtriya Ispat Nigam Limited - India
- Larsen & Toubro Limited - India
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- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
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- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
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- GAC Shipping (India) Pvt Ltd
- Australian Coal Association
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- Energy Link Ltd, New Zealand
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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