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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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- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- PTC India Limited - India
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Formosa Plastics Group - Taiwan
- Interocean Group of Companies - India
- Eastern Energy - Thailand
- The University of Queensland
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- Planning Commission, India
- Madhucon Powers Ltd - India
- Cement Manufacturers Association - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- PNOC Exploration Corporation - Philippines
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Central Java Power - Indonesia
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Australian Coal Association
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- GMR Energy Limited - India
- Bayan Resources Tbk. - Indonesia
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