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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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Monday, 21 April 14
DRY BULK MARKET UPS AND - MOST RECENTLY - DOWNS OFFERS NO ROOM FOR RELAXING AMONG DRY BULK SHIP OWNERS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market's latest demise, with the market retrating once again, since the end of March, has come at a time, when most ship owners ...
Sunday, 20 April 14
FREIGHT RATES END WEEK ON WEAK NOTE - VISTAAR
Wish you all Happy Easter.
The freight market continued to its downwards as BDI was fell 7.187 percent to 930 points week on week.
The ...
Friday, 18 April 14
US WEEKLY COAL PRODUCTION DECLINED BY 1% TO 18.9 MMST
COALspot.com – United States the world's second largest coal producer, produced approximately 18.9 million short tons (mmst) of coal i ...
Thursday, 17 April 14
DRY BULK MARKET ON RETREAT MODE, WHILE NEWBUILDING ORDERING ACTIVITY STALLS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has kept on retreating this week, a pattern which emerged since late March. Yesterday the BDI (Baltic Dry Index) ended yet a ...
Wednesday, 16 April 14
INDONESIA'S FEBRUARY 2014 COAL EXPORT VOLUME FELL 2.41%
COALspot.com: Indonesia, the world 4th largest coal producer and the global largest multi grade coal exporter shipped around $1.77* billio ...
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- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Posco Energy - South Korea
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Planning Commission, India
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Sree Jayajothi Cements Limited - India
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Indo Tambangraya Megah - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Intertek Mineral Services - Indonesia
- Coastal Gujarat Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Anglo American - United Kingdom
- Bhatia International Limited - India
- CIMB Investment Bank - Malaysia
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Star Paper Mills Limited - India
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Java Power - Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Kohat Cement Company Ltd. - Pakistan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
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