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