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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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Saturday, 01 August 20
SHIP SHAPE - OUCH: FIS
Thursday afternoon saw a report that US GDP in Q2 shrank by 32.9%. Now this may have beaten expectations, but it’s a bit like saying that you ...
Saturday, 01 August 20
ASIA HOPE FOR LONG-TERM OIL DEMAND - BALTIC BRIEFING
Oil demand in Asia Pacific might be expected to plunge 1.8m barrels per day (bpd) this year, but there are still strong prospects for growth over t ...
Friday, 31 July 20
PANAMAX: THE PERIOD MARKET REMAINS QUIET WITH FEW FIXTURES REPORTED - FEARNLEYS
Capesize
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Friday, 31 July 20
PANDEMIC SENDING SOUTH AFRICAN COAL INDUSTRY TO EARLIER GRAVE - IEEFA
Could South Africa’s coal export industry, one of the largest in the world, be about to take a severe hit from the coronavirus?
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Friday, 31 July 20
BOTSWANA PLANS MORE COAL-FIRED POWER AS AFRICAN SOLAR ACCELERATES - IEEFA
An African economic leader like Botswana should embrace solar to reduce subsidies and tariff hikes
As Sub-Saharan solar ambition has ...
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- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
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- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
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- Globalindo Alam Lestari - Indonesia
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- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Australian Coal Association
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Bahari Cakrawala Sebuku - Indonesia
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Cement Manufacturers Association - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
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- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
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- Vedanta Resources Plc - India
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