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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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Wednesday, 16 April 14
Q1 2014 : TERMS OF FREIGHT RATES THE PERFORMANCE IN THE DRY BULK MARKET HAS NOT MET THE HIGH EXPECTATIONS - INTERMODAL
This year the dates for the celebration of Easter will coincide for the Orthodox and the Catholic, so we are already seeing most people in the m ...
Tuesday, 15 April 14
NEWCASTLE SHIPPED MORE COAL WEEK ON WEEK
COALspot.com: In the week ended 07:00 hours 14 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensl ...
Monday, 14 April 14
SUB-BIT FOB INDO COAL SWAP FOR Q1' 15 DELIVERY CLOSED AT US$ 60.12 PER MT
COALspot.com: Indonesian coal swaps for average Q4’ 2014 gain on month and on week according to AsiaClear OTC coal swap's reports rele ...
Monday, 14 April 14
INDONESIA'S Q1 COAL PRODUCTION LITTLE CHANGED EVEN WITH PRICE DROP - INVESTOR DAILY
Indonesia’s coal production by volume in the first quarter remained little changed from the same period last year despite the decline in t ...
Monday, 14 April 14
API 8 CFR SOUTH CHINA COAL SWAPS GAIN FOR THE MONTH & WEEK
COALspot.com: API 8 CFR South China Coal swaps for average Q2 14 deliveries gained 4.61 percent month on month and closed at US$ 76.18 per mt as ...
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- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- PowerSource Philippines DevCo
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- White Energy Company Limited
- Mercator Lines Limited - India
- CIMB Investment Bank - Malaysia
- San Jose City I Power Corp, Philippines
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- The University of Queensland
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- CNBM International Corporation - China
- Madhucon Powers Ltd - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Standard Chartered Bank - UAE
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Planning Commission, India
- Economic Council, Georgia
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
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