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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, 29 June 20
ULTRAMAX: A 58,000 FIXING DELIVERY SINGAPORE TRIP, VIA EAST COAST INDIA, REDELIVERY CHINA IN THE LOW $12,000S - BALTIC BRIEFING
Capesize
As the halfway mark of 2020 arrives, the capesize market is making new highs for the year. From persistent lows earlier caused by a ba ...
Saturday, 27 June 20
CHINA'S BENCHMARK POWER COAL PRICE REMAINS FLAT - XINHUA
China’s benchmark power coal price remained flat during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
Friday, 26 June 20
WHAT TODAY'S BAILOUTS CAN DO FOR TOMORROW'S ECONOMIES - WORLD ECONOMIC FORUM
The COVID-19 crisis provides an opportunity for governments to build fairer, more sustainable and more resilient economies.
Governments a ...
Thursday, 25 June 20
ALL YOU WANT TO KNOW ABOUT COAL MINE AUCTIONS - THE HINDU BUSINESS LINE
Last week, Prime Minister Narendra Modi threw open the auction of 41 coal blocks for commercial mining. The decision, which was part of the announc ...
Wednesday, 24 June 20
MARKET INSIGHT - INTERMODAL
The World Bank estimates that the global economy will fall by 5.2% this year, underlining that the Covid-19 pandemic has had rapid and massive cons ...
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- Ceylon Electricity Board - Sri Lanka
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- Electricity Authority, New Zealand
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- Petron Corporation, Philippines
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- The Treasury - Australian Government
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- Bhoruka Overseas - Indonesia
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- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
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- Sinarmas Energy and Mining - Indonesia
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- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
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- Vizag Seaport Private Limited - India
- Economic Council, Georgia
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- India Bulls Power Limited - India
- Wood Mackenzie - Singapore
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Energy - Thailand
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- The University of Queensland
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- Tamil Nadu electricity Board
- Samtan Co., Ltd - South Korea
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Aditya Birla Group - India
- Formosa Plastics Group - Taiwan
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- Edison Trading Spa - Italy
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Wilmar Investment Holdings
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
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- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Intertek Mineral Services - Indonesia
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