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voda 31 januari 2018 20:18

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Chinese crude oil stockpile rises 3.24pct in December 2017
Published on Wed, 31 Jan 2018

Xinhua reported that China's commercial crude oil stocks went up 3.24 percent in December compared with a month earlier, while stocks of refined oil products surged 9.1 percent. The rise was a result of increasing output and falling processing volume.

Gasoline stocks went up during the period as fuel demand falls during the winter season. In December, China's export of gasoline jumped 18 percent from the previous month.

Demand for diesel also weakened due to a slowdown in construction activities. During the period, exports of diesel fell 1.7 percent.

Data from the National Bureau of Statistics showed China's output of crude oil stood at 15.98 million tonnes in December. Through 2017, China's crude oil output came in at 190 million tonnes, down 4 percent from a year earlier.

Source : Xinhua

voda 1 februari 2018 16:39

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Chinese industrie houdt groei vast
Inkoopmanagersindex in januari opnieuw op 51,5.

(ABM FN-Dow Jones) De bedrijvigheid in de Chinese industrie is in januari in een zelfde tempo gegroeid als een maand eerder. Dit bleek donderdag uit cijfers van Markit Economics en Caixin.

De inkoopmanagersindex eindigde opnieuw op 51,5, wat de hoogste stand sinds afgelopen augustus is.

Econoom Zhengsheng Zhong van CEBM sprak in een toelichting van een "bescheiden tempo", maar ook van een "goede start" van 2018.

Uit cijfers van de Chinese overheid bleek eerder deze week juist een daling van de inkoopmanagersindex voor de industrie, namelijk van 51,6 in december naar 51,3 in januari.

Een indexstand groter dan 50 wijst op groei van de industrie, terwijl minder dan 50 krimp betekent.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires

voda 1 februari 2018 16:44

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Optimistisch Alibaba koopt belang in Ant

Gepubliceerd op 1 feb 2018 om 14:44 | Views: 741

Alibaba Group Holding Limited 16:28
198,67 -5,62 (-2,75%)

HANGZHOU (AFN/BLOOMBERG) - Alibaba heeft zijn omzetverwachtingen verhoogd. De Chinese webwinkelgigant maakte verder bekend een belang van 33 procent te nemen in de financiële dienstverlener Ant Financial, die eveneens door miljardair Jack Ma is opgericht.

De opbrengsten van Alibaba werden gestuwd door de oplopende Chinese consumentenbestedingen. Verder heeft het bedrijf de afgelopen tijd fors geïnvesteerd in fysieke winkels en die strategie sorteert ook effect. Ook verdubbelden de inkomsten uit clouddiensten. Het bedrijf uit Hangzhou kijkt terug op een sterk derde kwartaal met een omzetstijging van 56 procent tot 83 miljard yuan (10,6 miljard euro).

Het concern rekent er nu op dat de hoger dan verwachte verkopen ook aanhouden in het laatste deel van het boekjaar, dat loopt tot eind maart. Eerder werd over het hele boekjaar gerekend op een omzetstijging van 49 tot 53 procent. Alibaba schroeft die groeiverwachting op tot 55 tot 56 procent. Onder de streep hield Alibaba 23,3 miljard yuan over. Dat is ruim een derde meer dan een jaar eerder.

Ant Financial is onder meer eigenaar van de betaaldienst Alipay, de Chinese tegenhanger en veel grotere variant van PayPal. Het bedrijf is de laatste jaren uitgegroeid tot een van de grootste fintechbedrijven ter wereld.

voda 1 februari 2018 17:14

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China's steel curbs to hit smaller producers hardest - Fitch

The Chinese authorities' winter curbs on steel production in the north-east and broader efforts to contain carbon emissions will temporarily lower steelmakers' sales volumes, but the impact on profits will be partially offset by higher prices and margins, says Fitch Ratings in association with CRU. Smaller steelmakers are likely to be the most negatively affected due to their relatively high fixed costs and the large capex burden they already face in meeting new environment standards for equipment.

The production cuts are being imposed to help meet emissions targets during the winter months, which extend from around mid-November to mid-March, and usually involve heavy pollution from coal-fire heating. The cuts will fall most heavily on sinter and ironmaking facilities in Hebei, Henan, Shanxi, Shandong and Tianjin, which together account for around half of Chinese iron and steel output. Plants in these regions may need to cut production by 50% on average during the heating season. Smaller steel producers have generally invested less in emissions control equipment and could be required to make larger cuts than producers with better emissions histories. So far, production cuts have been in line with expectations at the start of the winter, according to estimates by CRU

The production cuts are likely to cause steel prices to rise. Other heavy industries that consume large amounts of steel - such as construction - will also be constrained by the emissions targets, but steel supply is likely to fall more sharply than demand. Meanwhile, weak iron ore prices are likely to contain costs and support profits.

Large producers, including most of those rated by Fitch, should be relatively well placed to cope with the production cuts and any temporary hit to profitability. Their large scale, market dominance and access to cheap raw materials mean they are generally starting from more profitable positions than smaller players. Some may also have stockpiled inventory in anticipation of the production cuts, which will help them continue to meet orders. That said, larger players with operations concentrated in the north-east, such as HBIS, will be more affected than those located primarily in the south, such as Baowu, which are likely to run their unaffected steel facilities at above-average capacity utilisation during the winter months.

There could be a period of market tightness at the end of the winter, as it will take up to two months for steel companies to restart idle blast furnaces and ramp up production. Steel inventory is also likely to be low. This raises the possibility that demand will initially recover more quickly than supply, which would further support prices and margins.

The winter disruptions are unlikely to have a significant impact on our full-year 2018 steel market outlook. We still expect apparent consumption to remain flat compared with 2017. Prices are likely to be slightly lower on average than in 2017, but profitability should be supported by lower raw material costs.

The government's focus on environmental targets is likely to continue to create pressures for Chinese steel producers in the medium term. In particular, they will need to continue to invest in new equipment that meets the latest environmental standards. Larger steelmakers should find it easier to support this capex. Indeed, some of the large state-owned producers are already compliant with the latest policies. Smaller, less profitable producers could be gradually squeezed out of the market as they struggle to cope with the additional required capex.

Source : Fitch

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voda 1 februari 2018 20:10

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China to build 6 national forest city clusters by 2020 - Report

Asia Times reported that China will accelerate the construction of forest city clusters, aiming to build up six national-level such clusters by 2020. The six clusters are planned to include the Beijing-Tianjing-Hebei area, the Pearl River Delta and the Yangtze River Delta, as well as the Changsha-Zhuzhou-Xiangtan area, the Guanzhong-Tianshui area and middle China.

Mr Peng Youdong, deputy director of the State Forestry Administration, encouraged forestry departments at the provincial level to integrate the construction of forest cities into local economic and social development, and to actively seek loans from financial institutions as well as explore ways to attract social capital.

Among them, the Pearl River Delta has been identified as the first demonstration zone of a national forest city cluster, as seven out of nine cities involved in the cluster have already been rated as national forest cities.

Source : Asia Times

voda 1 februari 2018 20:12

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Chinese company finish work to deepen Yuzhniy Port in Odesa Oblast

Kyiv Post reported that Chinese engineers have helped Ukraine to increase the cargo transshipment capacity in one of its major international ports by least 5 million tons a year. China Harbor Engineering Company has finished work to deepen the Yuzhniy International Sea Port in Odesa Oblast, nation’s busiest international port, that handled more than 31 million tons of cargo in 2017.

The company finished works on December 27, three months before deadline, and officially presented the completed project on Jan. 30 at the Sea Ports Administration of Ukraine.

Ukraine operates 18 seaports in the Black and the Azov seas, in general, capable of handling 132 million tons of cargo transshipment a year. During nine months of 2017, Ukrainians ports handled 98 million tons of cargo, which is 1.3 percent higher than in the same period of 2016.

After Russia annexed Crimea in 2014, Ukraine has lost its major international ports in Sevastopol and Kerch, the cargo transshipment dropped by more than 35 percent and within four years managed to recover only by 5%.

Yuzhniy, Chornomorsk, Mariupol and Odesa ports took over the cargo from Crimean ports, that are now under international sanctions.

However, with the illegal construction of Crimean Bridge through the Kerch Strait, Kremlin is going to close Ukraine’s Azov Sea Ports in Mariupol and Berdyansk for heavy cargo vessels by 2019, cutting the cargo handling capacity by 30 percent.

China Harbor Engineering Company Hr 1 billion bottom deepening project was a key factor for the end of the new USD 150 million grain terminal construction in Yuzhniy Port – a joint project of international agrarian holding Cargill and MV Cargo company.

Within five months Chinese company extracted 4.4 million cubic meters of soil from the bottom of Black Sea in Yuzhniy Port and in such a way deepened the sea near Cargill docks ?25-26 down to 16 meters. This will enable the new terminal to handle large vessels with a deadweight of up to 100,000 tons that the new facility will attract to the port.

Currently, a grain terminal, financed by the European Bank for Reconstruction and Development and World Bank’s International Financial Corporation, is the biggest foreign investment project in Ukraine.

Mr Raivis Veckagans, the head of the Sea Ports Administration of Ukraine, said that the new terminal would provide an additional USD 23 million in taxes to the Ukrainian budget, create about 500 jobs and potentially could attract about USD 100 million investment.

The Chinese company won the construction tender on Prozorro public procurement system in April, after it offered Hr 1 billion 64 million, the lowest amount among all competitors who took part in a tender, saving the Ukrainian government Hr 132 million.

Volodymyr Omelyan, infrastructure minister of Ukraine said that China Harbor Engineering Company helped to improve Ukraine’s image among the investors.

Omelyan said that “This is the first time ever when a foreign company conducted all the work in Ukraine. By this transparent tender and early completed works, I think, we proved that Ukrainian government can be a reliable business partner.”

China’s Ambassador to Ukraine Du Wei confirmed said entrepreneurs from his country were also satisfied with the project.

Corrupt havens
Ukrainian authorities indeed have had a reputation of unreliable and corrupt business partner, frequently forging tender documents in favor of certain businesses. Tenders in ports are not exception.

Ukrainska Pravda news website reported on Jan. 29, National Anti-Corruption Bureau of Ukraine conducted searches in Odesa and Mykolaiv oblasts ports as a part of an investigation of misuse of power during the bottom deepening equipment purchase for Mariupol and Berdyansk Sea Ports in 2015-2016.

In October 2015 Yuzhniy branch of the Sea Ports Authorities in Ukraine purchased the bottom deepening equipment for Hr 134 million. The price is seen as unreasonably high by the NABU investigators, Ukrainska Pravda reported on Jan. 29.

Sergii Leshchenko, Petro Poroshenko Bloc faction lawmaker, said at a briefing in October 2016 Belgian engineering company Jan De Nul, supposedly linked to the People’s Front Party lawmaker Serhiy Feyermark, won Yuzhniy Port deepening tender, despite offering Hr90 million higher price than its main competitor, Dutch company Van Ord.

Dmitry Vyahirev, ports project manager of Cargill, said that “We have been working in Ukraine for more than 20 years, and we know how hard sometimes it can be to do business here. So thank you, everyone, involved that this is not that case.”

High quality and speed
China Harbor Engineering Company won the next tender on Yuzhny Port deepening works, that was held in April, combating four competitors, and Jan De Nul, that offered to conduct the works for a Hr48 million higher price among them.

China Harbour Engineering Company President Ling Tao said that “The ProZorro system is fair. It is a competition, where every company could have won.”

Source : Kyiv Post

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voda 1 februari 2018 20:13

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China building world's fastest Maglev with speeds up to 600 kilometer per hour by 2020

thatsmags.com reported that China’s largest railway developer, CRRC, officially plans to develop a prototype a new Maglev train that could reach speeds of over 600km/h (327mph) by 2020. The train (an official rendering pictured at top) could potentially be the fastest in the world, and may even surpass the world record of 602km/h set by a Japanese train in 2015.

CRRC first announced its plans to build a five kilometer test track back in 2016.

Technical plans for the Maglev were officially approved by a review committee of 19 experts last week, China Daily reports.

Ding Sansan, deputy chief engineer of CRRC Sifang, a wholly owned subsidiary of CRRC, was quoted as saying "As the plan has been reviewed, we will move to the stage of design construction. According to the schedule, we will develop one sample carriage this year, while the prototype of the whole car will be tested on a five-kilometer route by 2020."

Just how fast is 600km/h? At that speed, a journey between London and Paris could be cut to 34 minutes, while the trip from Shanghai to Beijing — which normally takes around six hours on the high-speed train — could take just three hours.

Maglev (Magnetic Levitation) trains use electric currents rather than fossil fuels to provide thrust, essentially allowing them to float above their tracks. They are able to achieve higher top speeds through aerodynamically designed trains combined with miniscule amounts of rail friction, offering smoother (and quicker) rides all round.

Source : thatsmags.com

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voda 1 februari 2018 20:27

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China nickel - FEAST AND FAMINE

Reuters reported that any lingering fears that resource nationalism in Indonesia and the Philippines would starve Chinese nickel pig iron producers of raw material should be laid to rest.

Sure, imports of nickel ore from the Philippines dropped 5 % last year to 29.11 million tonnes but Indonesia returned to help plug any gap.

Imports of Indonesian ore rocketed tenfold to 3.84 million tonnes as that country’s government partly reversed its previous ban on exports of unprocessed minerals.

The offshoring of Chinese NPI production to Indonesia, meanwhile, continues apace, with the flow of such material back to China surging 32 % last year to almost 1 million tonnes.

Amid this feast of raw materials, look no further to understand why China’s imports of refined nickel slumped 38 % last year.

There was, however, a noticeable pick-up in December itself. At 40,500 tonnes net imports were the highest they’d been since April 2016.

Russian material accounted for half that amount, which is significant since the London Metal Exchange will start in April the delisting process for two Norilsk Nickel brands of nickel commonly used by metals financiers.

Both brands remain deliverable to the Shanghai Futures Exchange, raising the possibility of a mass relocation of Russian metal into China.

Was December’s high tally an end-of-year one-off or the start of something bigger?

Source : Reuters

voda 1 februari 2018 20:28

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China copper import drop by 9pct

Reuters reported that China’s net imports of refined copper dropped 9 % last year to 2.9 million tonnes, the second consecutive year of reduced appetite for overseas metal. That could change this year, though, depending on what happens to China’s copper scrap imports.

Scrap has been an important, albeit often overlooked, part of China’s copper dynamics for many years.

The country’s imports of secondary material seemed to be locked in a long-term downtrend until last year, when they rose by 6 % to 3.56 million tonnes in bulk weight.

Improved global supply was a key factor in the turnaround as a rising copper price unlocked material that had been bought at higher prices.

Stronger inbound flows may also have been down to traders maximising their import quotas ahead of potentially massively disruptive rule changes on scrap this year.

If fully implemented, the new regulations on quality and purity levels could lead to an almost complete cessation of copper scrap imports.

It seems almost inconceivable that China would shut off such an important alternative supply of copper, but the level of 2018 import quotas granted so far points to a drastic reduction.

The precedent for what might happen this year is already there in China’s ban on imports of plastic waste, a largely unexpected move that has sent shockwaves down the plastics supply chain.

Source : Reuters

voda 1 februari 2018 20:29

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China import of zinc‘s late year surge

Reuters reported that after slow start China’s imports of refined zinc steadily accelerated over the second half of the year to reach a record monthly high of 122,814 tonnes in November. The annual count of 675,00 tonnes was also an all-time high, just beating the 670,000 tonnes imported in 2009.

The top two suppliers were Australia (164,000 tonnes) and Spain (161,000 tonnes). The former has long been a core shipper to China but Spain only sporadically so in the past.

The scale of imports over November and December, a cumulative 224,000 tonnes, suggests these “imports” were metal being customs cleared after sitting in bonded warehouses at Chinese ports.

That said, stronger imports fit well within zinc’s narrative of physical supply chain tightness and if they continue at this sort of pace, China’s trade figures will add further fuel to zinc’s already raging bull fires.

Contrarians may want to take note of the 22 percent increase in imports of mined zinc concentrates, suggesting that China is winning its share of raw materials in a tough market.

Source : Reuters

voda 1 februari 2018 20:29

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China turn big imported of lead

Reuters reported that China flipped from marginal net exporter of refined lead in the previous four years to big importer in 2017. Indeed, net imports of 70,900 tonnes were the second highest ever, eclipsed only in 2009, a year of global financial and trade upheaval. Two countries accounted for the bulk of last year’s inbound flows, Australia with 39,400 tonnes and Kazakhstan with 26,300 tonnes.

What caused this dramatic reversal in trade patterns?

It was a combination of the steady global tightening in mined raw materials availability and disruption to domestic supply, particularly in the scrap sector, from waves of environmental inspections.

It’s worth noting that China’s imports of lead concentrates at 1.28 million tonnes bulk weight were the lowest since 2008.

All imports from North Korea, China’s fourth largest supplier in 2016, stopped in the fourth quarter of last year due to international sanctions.

That leaves China ever more dependent on an already stretched international supply chain and its ability to secure raw materials this year will determine its appetite for more metal in refined form.

The pace of refined lead imports dropped sharply in the fourth quarter, suggesting the scramble for units in the domestic market has diminished.

Source : Reuters

voda 2 februari 2018 16:16

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Hebei denies news of Tangshan extending winter steel production cuts

Reuters reported that China’s Hebei province denied news reports on Thursday that it will extend steel production curbs imposed for the winter season, as sources told Reuters that authorities in the region’s top steelmaking city Tangshan was considering such a move. The government for the northern province issued a statement on its Weibo account refuting local media reports that it would prolong restrictions on steel mills’ operations by two months until mid-May. It said “Hebei’s provincial government and air pollution administrative bureau have never asked for the extension. Hebei will strictly carry out the production restriction issued by central government.”

Three sources familiar with the matter had earlier told Reuters that Tangshan, which is China’s largest steelmaking city and in Hebei province, is discussing prolonging the curbs after the traditional winter heating season ends.

Under Beijing’s winter production restrictions, steel mills were ordered to cut output by up to 50 percent from mid-November to mid-March, as part of the country’s efforts to combat air pollution.

Hebei produced 191 million tonnes of crude steel last year, 12 percent of China’s total. Tangshan accounts for more than half of that, more than the United States and is routinely listed among China’s 10 cities most affected by smog.

Source : Reuters

voda 2 februari 2018 17:16

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China to boost rail freight capacity to ensure coal supplies

Reuters reported that China will add at least 200 million tonnes of rail freight capacity in 2018, including at least 150 million tonnes of thermal coal capacity. Mr Lian Weiliang, deputy head of the National Development and Reform Commission said the government is working with the national rail operator to ensure coal supplies after a surge in demand for power.

China is trying to push more transportation of goods from coal to agricultural produce onto the rail network and reduce transport by road as part of its effort to reduce pollution.

Adding 200 million tonnes to the rail network would mark an increase of 5 % from 2017 rail cargo volumes of 3.69 billion tonnes.

That’s still much lower than volumes by road, by far the most popular way to transport freight, of almost 37 billion tonnes.

Mr Lian, speaking at a briefing ahead of China’s Spring Festival starting Feb. 16, also said the government and rail operator are prioritising current coal deliveries for power plants.

Utilities have warned of heating and electricity shortages after blizzards snarled railroads and highways, cutting off critical supplies of the fuel ahead of the upcoming holiday.

Mr Lian told reporters, adding that checks had been carried out on 26 such plants “We have worked with China Railway Corp to outline measures to target power plants that have less than seven days of coal stocks.”

Mr Lian said that “The railway departments will prioritise coal to guarantee that supplies are within the safe range.”

Currently coal stocks at power plants nationwide are enough for 15 days, “within the safe range”, he said.

Source : Reuters

voda 2 februari 2018 17:23

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China to go ahead with mergers of two nuclear firms

Caixin Global reported that China has given the green light for two of its largest nuclear-power firms to merge as it continues to consolidate state-owned enterprises to reduce overcapacity and improve operating efficiency. China’s state-asset regulator approved the proposed merger of China National Nuclear Corp, the country’s largest nuclear power plant developer and operator, and China Nuclear Engineering & Construction Corp which builds nuclear-power plants.

The two companies have been under direct supervision by the China State-Owned Assets Supervision and Administration Commission. CNECC will become a subsidiary company of CNNC, according to the announcement by the regulator. The merger will reduce the number of enterprises run by the central government to 97, compared with 117 in 2012.

The merger will create a new nuclear powerhouse with assets worth more than 600 billion yuan (USD 95.4 billion), according to estimates based on the two companies’ financial statements.

The consolidation will not affect the assets and trading of the three listed companies owned by CNNC and CNECC Shenzhen-listed SUFA Technology Industry Co, Shanghai-listed China National Nuclear Power Co and Shanghai-listed China Nuclear Engineering & Construction Corp.

The nuclear merger is among a handful consolidation deals in China’s energy industry.

Last year, the SASAC approved the merger of electricity producer China Guodian and Shenhua Group, the country’s top coal miner, to create the world’s largest power company by capacity, with combined assets of 1.8 trillion yuan.

In 2015, State Power Investment Corp. was established through the merger of the State Nuclear Power Technology Corp. and China Power Investment Corp., becoming one of three nuclear power plant developers and operators in China.

Mergers have also taken place in other sectors, including tourism and construction materials.

The Beijing State-Owned Assets Supervision and Administration Commission approved the proposed merger between state-owned hotel chain operator Beijing Tourism Group and Wangfujing Dongan Group Co, a Shanghai-listed retailer. After the merger, Beijing Tourism Group will have total assets of more than 100 billion yuan.

Last year, the China National Travel Service Group merged with China International Travel Services Group in a multibillion yuan deal that created the country’s largest tourism conglomerate.

In the steel industry, which has long ben plagued by overcapacity, Baowu Steel Group was formed late last year in a merger between Baoshan Iron and Steel Group and Wuhan Iron and Steel, making it the largest steel producer in China, and the second largest in the world.

Source : Caixin Global

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voda 5 februari 2018 16:17

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Chinese dienstensector groeit harder
Inkoopmanagersindex in januari naar 54,7.

(ABM FN-Dow Jones) De bedrijvigheid in de Chinese dienstensector is in januari in een hoger tempo gegroeid. Dit bleek maandag uit cijfers van Markit Economics en Caixin.

De inkoopmanagersindex voor de dienstensector steeg van 53,9 in december naar 54,7 in januari. Daarmee noteerde de index op de hoogste stand sinds oktober 2010.

Vorige week bleek de inkoopmanagersindex voor de Chinese industrie in januari een pas op de plaats te hebben gemaakt op 51,5.

Daarmee kwam de samengestelde index in januari uit op 53,7, een stijging ten opzichte van de 53,0 een maand eerder.

Econoom Zhengsheng Zhong van Caixin sprak van "een goede start van 2018".

Een indexstand van meer dan 50 geeft aan dat er sprake is van groei, terwijl een cijfer beneden de 50 wijst op krimp.

Door: ABM Financial News.

info@abmfn.nl

Redactie: +31(0)20 26 28 999

Copyright ABM Financial News. All rights reserved

(END) Dow Jones Newswires

voda 5 februari 2018 16:34

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China's steel demand has peaked - Mr Shi Hongwei

ECNS quoted Mr Shi Hongwei director of China Steel Development & Research Institute as saying that China's demand for steel has peaked and the coming 14th Five-Year Plan period (2021-25) will witness a decrease in steel consumption in the construction industry, while demand in the manufacturing sector is expected to remain at the same level. The official said that during the period, steel consumption will mainly occur in the manufacturing industry, supplemented by needs in construction. He added that specifically, steel consumption is expected to remain 600 million tonnes per year, with the manufacturing sector taking up over 60%.

Mr Shi said that because steel products are always being upgraded, steel consumption in this sector will level off.

He said that "The lifecycle of a ship is approximately 25 years, while that of an automobile is roughly 10 years. According to the statistics by the China Association of Automobile Manufacturers (CAAM), China's automobile output last year was 29 million. Theoretically, in 2027, or 10 years later, these cars will turn into scrap steel, and there will be a demand for new steel.”

He pointed out that China has experienced two rounds of large-scale infrastructure construction periods in the past years. As infrastructure construction in the country matures, there will be a gradual decrease in steel consumption in related sectors during 2021 to 2025.

Mr Shi explained that "In the construction sector, the lifecycle of infrastructure is rather long, resulting in a demand decrease.”

As a pillar industry for realizing the Made in China 2025 initiative, the steel sector plays a crucial and active role in boosting the country's intelligent manufacturing.

According to Shi, overall, the future of China's steel industry is still promising.

Source : ECNS

Bijlage:

voda 5 februari 2018 17:02

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China’s first 20,000-TEU containership delivered in Nantong

COSCO SHIPPING ARIES, China’s first 20,000-TEU containership with proprietary IPRs built by Nantong COSCO KHI Ship Engineering Co. Ltd (NACKS), affiliated to COSCO SHIPPING, was named and delivered in Nantong. It is the first 20,000-TEU containership built by NACKS for COSCO SHIPPING Lines. The new vessel not only breaks the record for the largest containership delivered in China, but also signifies that COSCO SHIPPING Heavy Industry has remained at the forefront in the world in the building of ultra-large containerships, stressed a release.

COSCO SHIPPING ARIES is the largest and most advanced containership delivered by a Chinese shipyard to date. Known as "Sea Castle", it is the one of the longest vessels in the world, with an overall length of 400 m, moulded beam and depth of 58.6 and 30.7 m, maximum deadweight of 197,000 tons, and a deck area larger than four standard soccer fields. Its carrying capacity, operating speed and safety performance are among the top worldwide while its energy consumption is far less than its peers. Its energy efficiency index is about 50 per cent lower than the industry benchmark. An LNG system is reserved on board for the future conversion of large-capacity LNG bunker serving in specific routes.

The release said that the vessel will be deployed on the Far East to Northwest Europe route as the first 20,000-TEU containership in the fleet of COSCO SHIPPING Lines, strongly boosting the company’s efforts to optimise its global liner network and container transportation services.

Source : Strategic Research Institute

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voda 5 februari 2018 17:10

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China to open iron-ore futures market to foreign investors

Caixin Global reported that China is preparing to open up its iron-ore futures trading to foreigners, a key step by the world’s biggest consumer of the commodity toward gaining greater sway over global pricing. Right now, Chinese buyers don’t always get the best prices for iron ore partly because its locals-only Dalian Commodity Exchange doesn’t have pricing power outside the country.

The shift will mean that domestic and foreign investors will bid and trade on the same platform, helping to create an internationally recognized, fair and transparent iron-ore futures benchmark. That will give China more clout in global price-setting for the commodity, executives at the Dalian exchange said.

Caixin learned that the exchange will soon begin to solicit public opinions on the draft rules for the change. Preparations are underway, though China Securities Regulatory Commission spokesman Chang Depeng didn’t disclose a time frame on Friday at a news conference.

China imported nearly 1.1 billion tonnrs of iron ore in 2017, accounting for 68% of total global shipments. Since Dalian launched its iron-ore futures contract in 2013, active trading of the contract has made the exchange the world’s largest iron-ore derivatives market.

The step to open up iron-ore futures trading is part of a broader move by the Chinese government to bring in more foreign investors to its commodities exchanges and expand the country’s influence in global markets.

As early as next month, the Shanghai International Energy Exchange, a unit of the Shanghai Futures Exchange, is expected to launch a long-awaited Chinese oil futures contract. It will be the first contract priced in yuan to be open to foreign investors. Right now, West Texas Intermediate on the New York Mercantile Exchange and Brent on the London-based ICE Futures Europe are the global benchmarks commonly used to determine oil prices.

The Zhengzhou Commodities Exchange is also actively searching for ways to be involved in international derivative markets.

Source : Caixin Global

voda 5 februari 2018 20:49

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Ukraine willing to borrow USD 7 billion from China for infrastructure projects - Mr Dovgan

unian.info reported that the Cabinet of Ministers of Ukraine intends to conclude a framework loan agreement with China on a number of infrastructure projects worth USD 7 billion, said Deputy Minister of Infrastructure of Ukraine, Viktor Dovgan, who spoke at the presentation of the exhibition project China International Import Expo.

Mr Dovgan said that "The government is aiming to come out with an official proposal to the Ministry of Economy of China regarding the conclusion of a framework loan agreement between China and Ukraine on a number of projects worth approximately USD 7 billion."

He said that contracts have already been signed worth EUR 200 million with two Chinese companies to build roads in Ukraine in 2018, and a contract for the construction of a bridge near Kremenchug is also expected.

Source : unian.info

voda 7 februari 2018 19:30

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China orders steel mills to step up safety checks after 2 deadly accidents

Reuters reported that China’s safety bureau on Tuesday urged steel mills to step up supervision and safety checks after 17 people were killed over the past week in two separate incidents related to gas leaks. State Administration of Work Safety said in a statement published on its website “Enterprises and local authorities should particularly step up safety supervision during maintenance and gas storage and transportation. Many unfavourable factors including increasing maintenance and extreme weather can easily cause production safety accidents.”

Steel mills were also requested to provide emergency rescue training to workers, strengthen onsite management and shut down outdated equipment.

Steel mill officials would be held responsible and production suspended if mills failed to strengthen safety measures, the bureau said.

Nine people died and two were injured after a gas leak at a boiler at Shuicheng Steel, a unit of leading state-owned Shougang Group, on Jan 31. The mill is based in southwestern Guizhou province. Another eight people died and 10 were injured in a gas leak incident at SGIS Songshan Steel Plant in southern Guangdong province on Monday.

Source : Reuters

AEX 921,92 -3,99 -0,43% 28 feb


Germany40^	22.555,90	+0,02%
BEL 20	4.420,51	-0,60%
Europe50^	5.455,27	-0,15%
US30^	43.818,00	0,00%
Nasd100^	20.879,40	0,00%
US500^	5.952,17	0,00%
Japan225^	37.585,40	0,00%
Gold spot	2.857,60	0,00%
EUR/USD	1,0375	-0,20%
WTI	70,08	0,00%

Van Lanschot ...	+4,09%
ADYEN NV	+2,53%
HEIJMANS KON	+1,76%
ACOMO	+1,59%
DSM FIRMENICH AG	+1,48%

Kendrion	-5,98%
AMG Critical ...	-4,99%
AZERION	-4,20%
AALBERTS NV	-3,13%
ASML	-2,93%

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