Soybeans, Corn Rise on Signs of Improved Demand for Commodities http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a5Wou30jG2WQ
On 6 mar, 22:19, xi <[email protected]> wrote: > China Told Container Lines to End ‘Zero Rates,’ Li Shaode > Sayshttp://www.bloomberg.com/apps/news?pid=newsarchive&sid=aIypsIET7uY0 > > March 6 (Bloomberg) -- China told local container lines to stop > offering “zero rates” after plunging demand and rising capacity pushed > shipping fees to unprofitable levels, according to Li Shaode, > president of China Shipping (Group) Co. > > The government acted after rates sank to as low as zero, excluding > fuel costs and other charges, on routes including China-Japan, Li said > today in Beijing. He didn’t say whether China Shipping had offered > “zero rates.” China Shipping Group’s container-line arm, the nation’s > second-biggest cargo-box carrier, also plans to raise China-Europe > fees from next month, Li added. > > A.P. Moeller-Maersk A/S, the world’s largest container line, Evergreen > Marine Corp. and Neptune Orient Lines Ltd. have also announced plans > to raise charges after shipping lines parked hundreds of vessels to > reduce capacity. Demand has slumped as U.S. and European consumers > pared spending on Asian-made goods amid the global recession. > > “Shipping lines can no longer afford to offer these low rates,” said > Li. “The shipping lines and clients should cooperate and communicate > to survive the downturn together. It’s what the government encourages > companies to do.” > > China Shipping Container Lines Ltd. isn’t due to receive any new > vessels this year, he added. > > Dry-Bulk Rates > > In terms of commodity-shipping rates, Li said he expects the Baltic > Dry Index to post a “temporary rebound” before fluctuating at low > levels amid the global recession. The index plunged 92 percent last > year as China’s waning growth sapped demand for imports of iron ore > and other commodities. > > “We hope the economic crisis will abate soon and that rates can > recover,” Li said. China Shipping Group operates dry-bulk vessels > through its China Shipping Development Co. unit. > > To safeguard against fluctuations in rates, the group has formed > shipping ventures with steelmakers Baosteel Group Corp. and Shougang > Corp., Li said. The company is also in talks on further ventures, he > added. > > Shipping lines will also benefit from the government stimulus plans > for the shipping sector and for the steel industry, he added. The > government also working on the details for logistic-sector stimulus > plans, he said. China has announced a 4 trillion yuan ($585 billion) > stimulus to help revive the nation’s sagging economic growth. > > China Shipping Group will also press ahead with plans to inject more > assets into listed units, Li said. The next target will likely be the > group’s logistics operations, he added, declining to say which unit > would receive it. China Shipping Container agreed to purchase its > parent’s terminal-operating unit last year. > > On 13 feb, 16:01, "[email protected]" <[email protected]> wrote: > > > > > My comment: I cannot foresee that official prediction, 8% growth for > > 2009. My bet is still 6% - 7%, at least, right now. Despite some think > > tanks from other universities are predicting 9% for 2009. > > > I think that, with Saudia cooperation, most countries in Asia and, in > > particular in the ASEAN and the Middle East, will leave this crisis as > > soon as in 2009. In my opinion, probably, China will leave it in early > > 2010. But we are already in the third phase of the U, we left the > > bottom behind us. That matters. Now, we have to intensify cooperation > > with the ASEAN to make them leave the crisis as soon as posible. > > > Peace and best wishes. > > > Xi > > > China’s Economy Shows Signs of Recovery on Stimulus > > >http://www.bloomberg.com/apps/news?pid=20601087&sid=ackHHxtWoFHc&refe... > > > Feb. 13 (Bloomberg) -- China’s economy is showing signs that a 4 > > trillion yuan ($585 billion) stimulus package is taking effect. > > > The world’s third-biggest economy may expand 6.6 percent in the second > > quarter after slowing to 6.3 percent in the three months to March 31, > > the weakest pace since 1999, according to the median estimates of 14 > > economists surveyed by Bloomberg News. > > > China is trying to reverse an economic slide that has already cost 20 > > million jobs, raising the risk of social unrest as exports plunge and > > the property market sags. Spending on roads railways and housing has > > increased prices for iron ore, put a floor under industrial output and > > helped to drive a record $237 billion of new loans in January. > > > “China looks set to be the first major economy to recover from the > > current global meltdown,” said Lu Ting, an economist with Merrill > > Lynch & Co. in Hong Kong. “China is the only economy in the world to > > see significant growth in credit to corporate and household sectors > > after September 2008, when the financial crisis worsened to a near > > collapse.” > > > The government’s stimulus plan, announced in November, is beginning to > > gather momentum. Projects such as the building of 3.5 billion yuan of > > public houses in Shaanxi province and Shanghai began in December, > > while Shandong province started work on three new railway lines the > > same month. > > > China is committing about 1.2 trillion yuan of central government > > funds to the plan, which means banks’ willingness to fund projects is > > crucial. So far they are responding. > > > Toxic Assets > > > The value of new loans in January was more than double the record set > > a year earlier, according to figures released by the People’s Bank of > > China yesterday. > > > The lending multiplies the effect of the government’s spending in ways > > that wouldn’t be possible in the U.S. and Europe, where banks are > > burdened by toxic assets, said Dwyfor Evans, a strategist with State > > Street Global Markets in Hong Kong. > > > While China is the only one of the world’s three biggest economies > > still growing, the expansion has slowed from 13 percent in 2007 and 9 > > percent last year. > > > Growth will accelerate from the current pace to 7.2 percent for the > > full year, according to Wang Qian, an economist with JPMorgan Chase & > > Co. in Hong Kong. Her calculation is that consumption will contribute > > 4.4 percentage points and investment 4 percentage points. The collapse > > in exports will slice off 1.2 percentage points. > > > Stimulus spending will contribute up to 3 percentage points of the > > total, she estimates. > > > Global Recession > > > Even if the global recession is protracted, China has the ammunition > > to maintain growth, said Merrill Lynch’s Lu. It has public debt of > > only 18.5 percent of gross domestic product -- compared with 75 > > percent in India -- foreign currency reserves of $1.95 trillion, and a > > balanced budget. > > > “China has perhaps the deepest pockets in the world,” said Lu. “It can > > relentlessly ramp up spending to create jobs and meet its growth > > target.” > > > The government-backed Purchasing Managers Index, a measure of > > manufacturing, showed a second monthly increase in January after a > > record low in November. > > > “The economy is bottoming,” said Tao Dong, chief Asia economist at > > Credit Suisse AG in Hong Kong, citing the PMI, the surge in bank > > lending, and spending on construction and machinery because of the > > infrastructure projects. > > > Some commodity prices signal a tentative recovery may be under way, as > > Chinese companies rebuild inventories. > > > Iron Ore, Steel > > > China’s imported iron ore has climbed 28 percent to 690 yuan per > > metric ton since the end of October. Hot-rolled steel has surged 41 > > percent from Nov. 13 to 4,027 yuan per metric ton. The Baltic Dry > > Index, a measure of shipping costs for commodities, has more than > > doubled since Jan. 28. > > > “You are starting to see the underlying demand of the Chinese > > economy,” BHP Billiton Ltd. Chief Executive Officer Marius Kloppers > > said Feb. 4. “We have seen in the steel business in China that the de- > > stocking cycle is almost complete and that means people are coming > > back into the market and buying.” > > > BHP Billiton is the world’s third-largest producer of iron ore. China > > is its largest consumer. > > > Coca-Cola Co., the world’s largest soft-drink maker, said yesterday > > that sales volume rose 29 percent in China in the fourth quarter after > > the company sponsored the Beijing Olympic Games. McDonald’s Corp., the > > world’s largest restaurant company, said Feb. 11 that it may > > accelerate expansion plans in Asia to boost market share as the > > region’s economies slow. > > > Shares Climb > > > Investors are also showing a renewed interest. China’s stock > > transactions rose to the highest in at least three years on Feb. 11. > > The Shanghai Composite Index of stocks has climbed about 36 percent > > from last year’s November low, gaining 3.2 percent today on optimism > > that government spending will bolster corporate earnings. > > > Still, any recovery will be modest as weakness in real estate adds to > > the problem of the collapse in trade, and the surge in loans increases > > credit risks for banks, economists say. > > > Exports fell by the most in almost 13 years in January, imports > > plummeted by a record 43 percent, and house prices across 70 major > > cities declined by the most since data began in 2005, according to a > > government report yesterday. > > > Companies fired workers at a faster pace in January than in December > > and most businesses faced tougher conditions, said Stephen Green, a > > Shanghai-based economist at Standard Chartered Bank. “Less bad news is > > not good news,” he said. > > > Even if stimulus spending creates 8 percent growth this year, meeting > > the government’s target, “it will unlikely be healthy, job-creating > > growth” because mostly it will boost demand for steel and cement and > > provide little support for consumption, said Green. > > > The World Bank said > > ... > > leer más »- Ocultar texto de la cita - > > - Mostrar texto de la cita - --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "World-thread" group. 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