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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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Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Energy - Thailand
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Asmin Koalindo Tuhup - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Economic Council, Georgia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- OPG Power Generation Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Posco Energy - South Korea
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- PNOC Exploration Corporation - Philippines
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
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