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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, 29 July 20
2019 U.S. COAL PRODUCTION FALLS TO ITS LOWEST LEVEL SINCE 1978 - EIA
In 2019, U.S. coal production totaled 706 million short tons (MMst), a 7% decrease from the 756 MMst mined in 2018. Last year’s production wa ...
Wednesday, 29 July 20
MARKET INSIGHT - INTERMODAL
The dry bulk sector is beginning to recover from reduced SnP activity recorded in the first quarter of 2020. The table below illustrates that appro ...
Tuesday, 28 July 20
DEUTSCHE BANK TO END GLOBAL BUSINESS ACTIVITIES IN COAL MINING BY 2025 - REUTERS
Deutsche Bank, in a revamp of its policies for fossil fuels, said on Monday that it would end business activities worldwide related to coal mining ...
Monday, 27 July 20
IEEFA ENERGY FINANCE CONFERENCE 2020: COAL, LNG, PETROCHEMICAL SECTORS FACE POOR OUTLOOK AND UPHILL BATTLE FOR INVESTORS
Fossil fuel industries were becoming less financially attractive even before the global coronavirus pandemic
Three major fossil fuel ...
Friday, 24 July 20
IPA: THERMAL COAL IMPORTS AT MAJOR PORTS DECLINE 35 PC TO 17.71 MT IN APR TO JUNE - ECONOMIC TIMES
These ports had handled 27.13 MT of thermal coal and 14.95 MT of coking coal in the April-June period of the previous financial year
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- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Parliament of New Zealand
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- IEA Clean Coal Centre - UK
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- TNB Fuel Sdn Bhd - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- ASAPP Information Group - India
- Xindia Steels Limited - India
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- International Coal Ventures Pvt Ltd - India
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Economic Council, Georgia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- European Bulk Services B.V. - Netherlands
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Thai Mozambique Logistica
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- The University of Queensland
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
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