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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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Friday, 07 August 20
PEABODY'S $1.42 BILLION WRITE-DOWN CONCEDES COAL MINES HAVE LITTLE VALUE AND DIM FUTURE - IEEFA
Trouble at biggest mine in Powder River Basin speaks volumes about state of industry
Peabody Energy, the world’s largest priva ...
Thursday, 06 August 20
SUPRAMAX MARKET CONTINUED SIDEWAYS TREND, AND LITTLE INSPIRING NEWS APPEAR - FEARNLEYS
Capesize
There is presently a small correction in rates, but overall levels are up from previous week mainly due to increased demand in the Eas ...
Thursday, 06 August 20
KOREA SOUTH-EAST POWER INVITING BIDS FOR MIN 3,600-MAX 3,800 NCV COAL
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) inviting bids for 80,000 Tons (MT) Min 3,600~Max 3,800 kcal/kg NCV coal f ...
Wednesday, 05 August 20
NO NEW MINING LICENSES - A REMINDER TO GOVERNORS IN INDONESIA - SSEK
Indonesia’s acting Director General of Mining and Coal (“DGMC”) has issued a letter to the country’s provincial Governors t ...
Wednesday, 05 August 20
AUGUST 2020 HBA HITTING ITS LOWEST LEVELS IN HISTORY
COALspot.com: The Indonesia Coal Price Reference for the month of August plunged 30.73% YoY, hitting its lowest levels in history and highlighting ...
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- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Chettinad Cement Corporation Ltd - India
- Barasentosa Lestari - Indonesia
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Goldman Sachs - Singapore
- ICICI Bank Limited - India
- Global Green Power PLC Corporation, Philippines
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Deloitte Consulting - India
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- India Bulls Power Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- McConnell Dowell - Australia
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- VISA Power Limited - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- GMR Energy Limited - India
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Lanco Infratech Ltd - India
- The University of Queensland
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
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