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