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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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Monday, 20 July 20
OIL PRICE OF $40-43 PER BARREL MORE OR LESS BALANCED - NOVAK | TASS
The Russian Ministry of Energy considers the current oil price of $40-43 per barrel more or less balanced and does not expect price changes after t ...
Monday, 20 July 20
SUPRAMAX: A 63,000 OPEN NORTH CHINA FIXING AN AUSTRALIAN ROUND IN THE LOW $10,000S - BALTIC BRIEFING
Capesize
The capesize market showed some resistance this week to recent losses as all routes saw a small uptick in value to end the week. With ...
Friday, 17 July 20
MISC MALAYSIA ENTERS INTO PURCHASE AGREEMENTS AND TIME CHARTER PARTIES FOR SIX VLECS
MISC Berhad (MISC) has entered into Memorandum of Agreements (MOAs) with six indirect wholly-owned subsidiaries of Zhejiang Satellite Petrochem ...
Wednesday, 15 July 20
HOW MEANINGFUL ARE SOME ESTIMATES FOR INDIA’S COAL CONSUMPTION DATA? - IEEFA
In recent years, BP's estimates for India have contained what appears to be a record of over-optimistic projections
BP’s a ...
Wednesday, 15 July 20
CHINA'S JUNE COAL IMPORTS FALL 6.7% Y/Y ON PORT CURBS - REUTERS
China’s coal imports dropped 6.7% in June from the same period last year, as stringent import restrictions at ports impeded purchases by trad ...
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- Indika Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Australian Coal Association
- Antam Resourcindo - Indonesia
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Medco Energi Mining Internasional
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- Essar Steel Hazira Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Bhatia International Limited - India
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
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