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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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Tuesday, 08 April 14
PORT OF NEWCASTLE SHIPPED 2.90 MMT OF POWER PLANT AND SEMI-SOFT COKING COAL IN A WEEK
COALspot.com: In the week ended 07:00 hours 7 April 2014, power plant and semi-soft coking coal shipments from the port of Newcastle in Queensla ...
Tuesday, 08 April 14
RBCT SHIPPED 53.79% MORE COAL IN MARCH 2014
COALspot.com: South Africa's Richards Bay Coal Terminal (RBCT) the single largest export coal terminal in the world, shipped 6.90 million to ...
Tuesday, 08 April 14
APRIL 2014 INDONESIAN COAL PRICE REFERENCE DROPS TO LOWEST SINCE JANUARY 2010
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia has revised down again the coal bench mark price by US$ 2.20 / MT to ...
Tuesday, 08 April 14
TALKING ABOUT A ONE-HORSE RACE - GEORGE LAZARIDIS
Ever since the onslaught of the financial crisis, China along with the other BRIICs, have played a pivotal role in supporting global economic gr ...
Monday, 07 April 14
WEEKLY SUB-BIT FOB INDONESIA COAL SWAP CLAIMS EDGE FALL; TREND NEGATIVE
COALspot.com: Indonesian coal swaps for average Q4’ 2014 lost on month, day and on week according to AsiaClear OTC coal swap's reports ...
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- Borneo Indobara - Indonesia
- Minerals Council of Australia
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- GVK Power & Infra Limited - India
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- Parliament of New Zealand
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- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
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- Cigading International Bulk Terminal - Indonesia
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- Africa Commodities Group - South Africa
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- GAC Shipping (India) Pvt Ltd
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- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sree Jayajothi Cements Limited - India
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
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- Merrill Lynch Commodities Europe
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- London Commodity Brokers - England
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Aditya Birla Group - India
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- MS Steel International - UAE
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
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- Attock Cement Pakistan Limited
- White Energy Company Limited
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- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Australian Coal Association
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Timah Investasi Mineral - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
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- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
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- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
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- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Thai Mozambique Logistica
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- Posco Energy - South Korea
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- Energy Development Corp, Philippines
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