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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, 01 July 20
MARKET INSIGHT - INTERMODAL
It was beginning of 2020 – close to 6 months from now – when we first experienced the huge impact of the COVID 19 outbreak on Ship Repa ...
Monday, 29 June 20
INDONESIAN COAL AT THE MERCY OF THE DRAGON AND TIGER - GHEE PEH | IEEFA
Coal sector analysts have been busy in recent months mapping the negative impact of low coal prices from the COVID-19 pandemic on Indonesian coal c ...
Monday, 29 June 20
FALLING DEMAND IN CHINA AND INDIA SIGNAL TOUGH TIMES AHEAD FOR INDONESIAN EXPORTS - GHEE PEH | EEFA
Assessing the Impact on Indonesian Coal Companies
The bad news for Indonesia’s coal companies is that they are likely to have ...
Monday, 29 June 20
INDIA COAL IMPORT OUTLOOK: WEAK DEMAND, IMPORT SUBSTITUTION, EXPECT 20% YOY DECLINE - GHEE PEH | IEEFA
For India, the coal demand indicators have clearly turned negative.
According to Argus Media, since the government declared a ...
Monday, 29 June 20
CHINA COAL IMPORT OUTLOOK: MANY MOVING PARTS, FORECAST TO FALL 10% YOY - GHEE PEH | IEEFA
China’s coal demand declined in the first quarter of 2020. According to the China National Coal Association, the country consumed 870mt in th ...
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- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Kideco Jaya Agung - Indonesia
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Videocon Industries ltd - India
- PTC India Limited - India
- Global Business Power Corporation, Philippines
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- New Zealand Coal & Carbon
- Minerals Council of Australia
- The University of Queensland
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- White Energy Company Limited
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Central Electricity Authority - India
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- Wood Mackenzie - Singapore
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Aditya Birla Group - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Kaltim Prima Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Straits Asia Resources Limited - Singapore
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
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