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Monday, 14 April 14
CHINA'S MEASURES TO STIMULATE ECONOMY'S GROWTH COULD OFFER ROOM FOR STABILITY IN SHIPPING MARKETS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Since the outbreak of the 2008-crisis, the shipping industry, in most of its aspects, i.e. dry bulk and tanker markets alike, has been dealing with volatility in its extreme. Freight markets seem to "overreact" to even minor factors, in terms of demand or supply, thus making life a lot more difficult for ship owners. As a result, any move towards bolstering the mild landing of the Chinese economy as of late, could prove to be a stabilizing factor for shipping.
According to the latest note from shipbroker Intermodal, "China's economy is facing challenges this year as growth in investment, retail sales and factory output are all witnessing multi–year lows, while the slowdown is evidenced in the released report by National Bureau of Statistics. This has inevitably led the Chinese government to imminent stimulus measures in order to avoid any further slowing down of the economy, while pushing through reforms in order to provide longer-term and more sustainable growth".
Konstantinos Kontomichis, SnP Broker with Intermodal, noted that "the Government’s initial goals are to eliminate taxes on small businesses and reduce costs imposed on exporters as well as to raise funds for the construction of railways. This attempt will help push for further expansion of private enterprise, boosting the presence of SMEs and giving them greater space to operate. In particular, from the beginning of August this year, businesses with monthly sales less than USD 3,250 will not have to pay VAT and operating taxes. The State Council has also stated that it will consider further tax cuts for businesses. Analysts claim that tax cuts will benefit more than 6 million companies when applied.
Furthermore, the government announced simplification of approval procedures for exporting companies with reduction in administrative costs. Along that, it is said that the Chinese will provisionally withdraw inspection fees for commodities exports and rationalize customs inspection of manufactured goods. Additional investors are to be motivated to participate in the fulfillment of the ambitious railway plans which entail the opening of 4,100 miles of new rail lines. Among these measures there is also the issuing of new bond products. Last but not least, the renovation of urban neighborhoods is bound to continue, with the Prime Minister stating that the government will construct or renew houses for almost 5.0 million people living in temporary accommodations", Kontomichis said.
He added that "at the same time, the government is confident of maintaining economic growth within realistic limits, with the implementation of means and mechanisms to ensure this. Actually, Beijing targets an increase in GDP of 7.5% for 2014 followed by 7.7% which was last year’s growth. It is worthy to mention that such measures as presented are indeed smaller than those implemented in 2009 during the overall financial crisis. At that time China eliminated the downstream with an extended spending program. More specifically, the central bank of the country has controlled both the money supply and interest rates so as to inspire growth, pretty much as the Federal Reserve did in the US. Chinese Leaders have stressed the importance of a consumption led growth that seems difficult to be achieved in practice. To that extent the Asian Development Bank has recently called for governments in Asia to regulate their fiscal policies so as to stimulate economic growth that is more inclusive of the poor", the SnP Broker said.
Kontomichis concluded his analysis by noting that "of course China's economy is not the sole variable influencing shipping but a major amongst many. During such an economic unstable environment worldwide, where numerous factors are responsible for shaping global growth, the government in Beijing offers to the shipping industry a more “manageable” core variable by simply controlling tightly the Chinese economy. As the volatility in our industry has gone through the roof during the last decade, no one feels like they are walking on solid ground. Therefore, irrespectively if the above mentioned policies will have a substantial positive effect or not, they will at least contribute to short term periods characterized by stability that could support the market during challenging times ahead", said Intermodal's analyst.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 02 May 14
US WEEKLY COAL PRODUCTION RELATIVELY FLAT AT -0.1%, SAYS EIA
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 02 May 14
DRY BULK MARKET SHOWING SIGNS OF COMEBACK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market which has been hovering below the 1,000-point market (BDI) during the past couple of weeks, could be exhibiting signs of a s ...
Thursday, 01 May 14
INDONESIA EXPORT BAN POINTS TO QUESTIONS OVER CHINA'S LONG-TERM BAUXITE SUPPLY - WOOD MACKENZIE
China’s Bauxite demand forecast to reach 240 million tonnes by 2030
In light of the Indonesian mineral ore ban that came into force o ...
Thursday, 01 May 14
DRY BULK MARKET STILL REELING UNDER PRESSURE FROM VARIOUS FACTORS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's revival is still overdue, as the industry's benchmark, the BDI is still lagging below the 1,000-point mark. In fac ...
Wednesday, 30 April 14
FREIGHT MARKET FOR DRY BULKERS STILL REMAINS WEAK - INTERMODAL
One week after the Easter holiday and the celebration for the resurrection of Christ, everybody expected to see a similar sign of a revival in t ...
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- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- IHS Mccloskey Coal Group - USA
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Savvy Resources Ltd - HongKong
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Billiton Holdings Pty Ltd - Australia
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Economic Council, Georgia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Maheswari Brothers Coal Limited - India
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Electricity Generating Authority of Thailand
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Kideco Jaya Agung - Indonesia
- Jaiprakash Power Ventures ltd
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
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