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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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Monday, 21 April 14
DRY BULK MARKET UPS AND - MOST RECENTLY - DOWNS OFFERS NO ROOM FOR RELAXING AMONG DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's latest demise, with the market retrating once again, since the end of March, has come at a time, when most ship owners ...
Sunday, 20 April 14
FREIGHT RATES END WEEK ON WEAK NOTE - VISTAAR
Wish you all Happy Easter.
The freight market continued to its downwards as BDI was fell 7.187 percent to 930 points week on week.
The ...
Friday, 18 April 14
US WEEKLY COAL PRODUCTION DECLINED BY 1% TO 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 17 April 14
DRY BULK MARKET ON RETREAT MODE, WHILE NEWBUILDING ORDERING ACTIVITY STALLS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating this week, a pattern which emerged since late March. Yesterday the BDI (Baltic Dry Index) ended yet a ...
Wednesday, 16 April 14
INDONESIA'S FEBRUARY 2014 COAL EXPORT VOLUME FELL 2.41%
COALspot.com: Indonesia, the world 4th largest coal producer and the global largest multi grade coal exporter shipped around $1.77* billio ...
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- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Singapore Mercantile Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Planning Commission, India
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- PTC India Limited - India
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Kartika Selabumi Mining - Indonesia
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Economic Council, Georgia
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Coalindo Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Heidelberg Cement - Germany
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Mercuria Energy - Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- The University of Queensland
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
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