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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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Sunday, 10 September 23
CHINA AUGUST COAL IMPORTS OF 44.3 MLN T HIT RECORD - REUTERS
China, the world’s top coal consumer, imported 44.3 million metric tons of the fuel last month, customs data showed, the highest amount in an ...
Tuesday, 22 August 23
CHINA'S COAL PRODUCTION LOGS STEADY GROWTH IN JANUARY-JULY: XINHUA
China’s output of raw coal went up 3.6 percent year on year in the first seven months of this year, official data showed.
The ...
Sunday, 13 August 23
THE COMMODITIES FEED: LNG SUPPLY RISKS LINGER - ING
Energy – OPEC sees deficit over remainder of 2023
Oil prices came under some pressure yesterday with ICE Brent settling a litt ...
Wednesday, 09 August 23
COAL TRADE TO RETURN TO 2019 LEVELS - BALTIC EXCHANGE
The International Energy Agency’s mid-year Coal Market Update for 2023 brings both positive and concerning news for the global coal industry. ...
Sunday, 23 July 23
ANALYSIS-INDIA'S COAL MINING BET STUMBLES AS WARY BANKS WEIGH RISING RISKS - REUTERS
India’s drive to ramp up coal output to meet growing energy demand is faltering due to banks’ reluctance to finance newly auctioned min ...
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- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Siam City Cement PLC, Thailand
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Energy Development Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Rio Tinto Coal - Australia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- South Luzon Thermal Energy Corporation
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
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