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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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Sunday, 13 April 14
INDONESIA TO INDIA FREIGHT MARKET DECLINE CONTINUES
COALspot.com: The freight market continued to drop this week and BDI almost touched 1000 points. BDI closed at 1002 points fell 16.85 pct week o ...
Saturday, 12 April 14
HOW DO YOU CALCULATE LOSS OF EARNINGS FOLLOWING A COLLISION? - INCE & CO
KNOWLEDGE TO ELEVATE
The recent case of Astipalaia vs Hanjin Shenzhen [2014] EWHC 120 (Admlty) has revisited the existing case law on asses ...
Friday, 11 April 14
US COAL PRODUCTION IN MARCH INCREASED 9.69% TO 82.6 MMST MONTH ON MONTH
COALspot.com – United States the world's second largest coal producer, produced approximately 19.10 million short tons (mmst) of coal ...
Thursday, 10 April 14
DRY BULK MARKET IS RISING CLAIMS BIMCO - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Despite the recent fall of the Baltic Dry Index (BDI), when one compares the first quarter of 2014, to similar quarters of the recent past, it i ...
Wednesday, 09 April 14
DRY BULK MARKET STRUGGLED THROUGHOUT THE WEEK - INTERMODAL
The Dry Bulk market struggled throughout the week but the poor performance across the board didn't allow for any positive reversal, pushing ...
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- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
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- Ceylon Electricity Board - Sri Lanka
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
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- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
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- Economic Council, Georgia
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- Larsen & Toubro Limited - India
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- Indian Oil Corporation Limited
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- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
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- San Jose City I Power Corp, Philippines
- Australian Coal Association
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- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Iligan Light & Power Inc, Philippines
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- Posco Energy - South Korea
- London Commodity Brokers - England
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Heidelberg Cement - Germany
- Gujarat Mineral Development Corp Ltd - India
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Indian Energy Exchange, India
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
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- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Central Electricity Authority - India
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- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Parliament of New Zealand
- Indo Tambangraya Megah - Indonesia
- Minerals Council of Australia
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
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- Wood Mackenzie - Singapore
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
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- Offshore Bulk Terminal Pte Ltd, Singapore
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- Indonesian Coal Mining Association
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