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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, 17 July 23
APPROVED AMMONIA-FUELED CONTAINERSHIP - BENEFITS AND RISKS: REED SMITH
Following the news in Offshore Energy that Korea Maritime Consultants has secured approval in principle from the American Bureau of Shipping for it ...
Friday, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
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- Independent Power Producers Association of India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
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- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
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- New Zealand Coal & Carbon
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- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
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- Trasteel International SA, Italy
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- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
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- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
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- India Bulls Power Limited - India
- Singapore Mercantile Exchange
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- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Planning Commission, India
- The University of Queensland
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Mineral Development Corp Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Commonwealth Bank - Australia
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
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- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
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- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Sojitz Corporation - Japan
- Thiess Contractors Indonesia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
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- Africa Commodities Group - South Africa
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- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ICICI Bank Limited - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Central Electricity Authority - India
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- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- Salva Resources Pvt Ltd - India
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
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