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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, 05 August 20
SLUMP IN OIL REVENUE CHALLENGES MIDDLE EAST OIL EXPORTERS - INTERMODAL
The Covid-19 pandemic has had far-reaching consequences on the global capital markets. Despite the US government’s efforts for a quick and de ...
Tuesday, 04 August 20
KOEN INVITED BIDS FOR TOTAL 900K MT OF MIN 5600 NCV COAL FOR 3 YEARS
COALspot.com: South Korea’s KOREA SOUTH-EAST POWER CO., LTD. (KOEN) has issued an international tender for 260,000 to 300,000 Tons (MT) min. ...
Tuesday, 04 August 20
THE WORLD’S FLEET OF COAL-FIRED POWER STATIONS HAS GOT SMALLER FOR THE FIRST TIME ON RECORD, WITH MORE CAPACITY RETIRED IN THE FIRST HALF OF 2020 THAN THE AMOUNT OPENED - IEA
This is according to the latest Global Coal Plant Tracker (GCPT) results by Global Energy Monitor (GEM), which we completed last month and report f ...
Monday, 03 August 20
U.S. COAL CONSUMPTION, WHICH HAS DECLINED SINCE ITS 2007 PEAK, FELL TO ITS LOWEST POINT IN APRIL 2020 - EIA
According to the U.S. Energy Information Administration’s (EIA) most recent Monthly Energy Review, the United States consumed 6.5 quadrillion ...
Monday, 03 August 20
LOW OIL PRICE AND CORONA VIRUS HIT SUB-SAHARAN AFRICA OIL PRODUCERS - FITCH RATINGS
The collapse in oil prices and the coronavirus shock is worsening the fiscal and external balances of sub-Saharan African oil producers, Fitch Rati ...
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- Bangladesh Power Developement Board
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- IEA Clean Coal Centre - UK
- Planning Commission, India
- Parry Sugars Refinery, India
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kartika Selabumi Mining - Indonesia
- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Sarangani Energy Corporation, Philippines
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Lanco Infratech Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Directorate Of Revenue Intelligence - India
- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Anglo American - United Kingdom
- Marubeni Corporation - India
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Barasentosa Lestari - Indonesia
- Bulk Trading Sa - Switzerland
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