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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, 25 April 14
US PRODUCED APPROXIMATELY 19 MILLION SHORT TONS OF COAL IN A WEEK
COALspot.com – United States the world's second largest coal producer, produced approximately 19.0 million short tons (mmst) of coal i ...
Friday, 25 April 14
2ND MYANMAR ELECTRIC POWER CONVENTION 2014 IS THE GATEWAY TO MYANMAR POWER INDUSTRY!
Press Release: 2nd Myanmar Electric Power Convention (MEPC) 2014 is scheduled on 21-23 October, 2014 at Traders Hotel in Yangon, Myanmar. MEPC o ...
Friday, 25 April 14
DRY BULK MARKET LOOKING FOR NEW TRACTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market seems to have gained its footing after the past few dissapointing weeks, during which the Baltic Dry Index (BDI) shedded mos ...
Thursday, 24 April 14
HANDY : A FLOW OF FRESH REQUIREMENTS LIFTING THE PACIFIC SLOWLY TO US$ 10-11 K BSS SINGAPORE FOR COAL ROUNDS
Handy
There is still no place to hide in the Atlantic for the smaller but flexible sizes. Slow and weak seems to be the headlines, although th ...
Wednesday, 23 April 14
EUROPE WOULD BE HARD PRESSED TO REPLACE RUSSIAN GAS, FITCH RATINGS SAYS
A ban on Russian gas imports to the EU would cause substantial disruption to Europe's economy and industry, Fitch Ratings says. In the immed ...
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- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Lanco Infratech Ltd - India
- Economic Council, Georgia
- The University of Queensland
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- Larsen & Toubro Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Minerals Council of Australia
- Ministry of Transport, Egypt
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- New Zealand Coal & Carbon
- Mjunction Services Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- LBH Netherlands Bv - Netherlands
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
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