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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, 15 July 20
MARKET INSIGHT - INTERMODAL
The Covid-19 virus spread around the world has obviously impacted the global oil demand while the situation remains fluid. The overall constraint ...
Tuesday, 14 July 20
CHINA TAIYUAN COAL TRANSACTION PRICE INDEX UP 0.75 PCT - XINHUA
China Taiyuan coal transaction price index stood at 126.01 points Monday, up 0.75 percent week on week.
The index, released by China ...
Tuesday, 14 July 20
TURKEY - A CASE OF UNDECLARED BUNKER - GARD
KNOWLEDGE TO ELEVATE
Undeclared/excess bunkers can be considered a criminal act by Turkish customs officials with the ship's crew being ac ...
Monday, 13 July 20
PANAMAX: A TUMULTUOUS WEEK IN THE PANAMAX MARKET ENSURED ALL MARKETS GAINED VALUE ON THE WEEK - BALTIC BRIEFING
Capesize
This week witnessed the dreaded correction in the Capesize market, with the time charter average shedding almost 18 per cent to close ...
Friday, 10 July 20
CHINA'S BENCHMARK POWER COAL PRICE EDGES UP - XINHUA
China’s benchmark power coal price rose slightly during the past week.
The Bohai-Rim Steam-Coal Price Index (BSPI), a gauge of ...
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- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Meenaskhi Energy Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Cigading International Bulk Terminal - Indonesia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Therma Luzon, Inc, Philippines
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- MS Steel International - UAE
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Cement Manufacturers Association - India
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Economic Council, Georgia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- Thai Mozambique Logistica
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- Electricity Generating Authority of Thailand
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Sree Jayajothi Cements Limited - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Borneo Indobara - Indonesia
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- The University of Queensland
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Chettinad Cement Corporation Ltd - India
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
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