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