China Macroeconomics & Academia

Christopher Balding

Macroeconomics

POST PMI OF AUGUST IS VERY INTERESTINGThe PMI for August is out and intriguing. Compared to last month’s PMI of 49.9, this month’s PMI is .5 points higher at 50.4 so far the best this year. But like always, Chinese data is heavily manipulated and doesn’t actually represent what is happening in the economy. Nevertheless, the latest PMI release commensurate with our belief about impact of fiscal stimulus on the economy as the primary driver of current activity. In order to understand the broader…

  POST PMI OF AUGUST IS VERY INTERESTINGThe PMI for August is out and intriguing. Compared to last month’s PMI of 49.9, this month’s PMI is .5 points higher at 50.4 so far the best this year. But like always, Chinese data is heavily manipulated and doesn’t actually represent what is happening in the economy. Nevertheless, the latest PMI release commensurate with our belief about impact of fiscal stimulus on the economy as the primary driver of current activity. In order to understand the broader…

Equity Research Analyst, Maritime sector, Drewry Maritime Financial Research

Ankush Kathuria CFA, FRM

Equity Research Analyst, Maritime sector

Maritime Sector, Equity & Credit Research

Drewry Maritime Financial Research

With no ties to other players in the shipping, finance or banking world, we provide a uniquely impartial view of the markets and companies we cover. Our parent organization, Drewry is a leading independent provider of research services to the maritime and shipping industry, employing over 100 professionals across an international network of offices in London, Delhi, Singapore and Shanghai. Combining our market-leading resources with seasoned sector expertise DFRS offers a highly differentiated and comprehensive range of investment and financial research services to lenders and prospective investors in publicly listed maritime and shipping companies. The full service of reports, supporting resources and sector orientated webinars provides our clients with the most complete picture of the organisations under coverage as is possible. We have been charting and analysing the world’s maritime markets for more than 40 years. This unrivalled intelligence and understanding provides the foundation of our research service. Our analysts have access to one of the most up-to-date, comprehensive and reliable sources of market insight and research data available today. We look at globally listed companies within the following sectors: Port Operators, Container Shipping, Container Manufacturing & Leasing, LNG Shipping, Dry Bulk Shipping and Tanker Shipping. Combine in-depth sector expertise with financial analysis focusing on over 50 stocks globally.

Thematic (Sector/Industry)

Carriers have withdrawn extremely low spot market freight rates on some, but not all, routesDrewry’s Global Freight Rate Index, a weighted average of spot container freight rates across all major routes except intra-Asia, swung back in Q216 by 13% to reach $1,403 per 40ft box. The global spot rate index had dropped to an all-time low of $1,113 per 40ft container in April.The 26% jump in the global rate index between April and July follows the recent tendency of ocean carriers to increase rates…

Carriers have withdrawn extremely low spot market freight rates on some, but not all, routesDrewry’s Global Freight Rate Index, a weighted average of spot container freight rates across all major routes except intra-Asia, swung back in Q216 by 13% to reach $1,403 per 40ft box. The global spot rate index had dropped to an all-time low of $1,113 per 40ft container in April.The 26% jump in the global rate index between April and July follows the recent tendency of ocean carriers to increase rates…

Container Shipping - Freight Rates Bottoming Out ?

Bespoke Research on China and neighbouring regions, Bixmoor

Bixmoor

Bespoke Research on China and neighbouring regions

Bixmoor specialises in providing bespoke research to business, governments and the financial community on China and neighbouring regions. We seek to build long-term relationships with our clients, based on our expertise, our reliability and our determination to find the right solution.

<a href="http://pubs.healtheffects.org/view.php?id=455" target="_blank">A comprehensive study</a> published last week by Tsinghua University and the Health Effects Institute found that coal combustion is the single largest source of air pollution-related health problems in China, contributing to 366,000 premature deaths in 2013.The study, which is the first comprehensive assessment at national and provincial levels of future burdens of disease due to coal burning and particulates, notes that China has implemented extensive pollution control programs for power plants…

A comprehensive study published last week by Tsinghua University and the Health Effects Institute found that coal combustion is the single largest source of air pollution-related health problems in China, contributing to 366,000 premature deaths in 2013.The study, which is the first comprehensive assessment at national and provincial levels of future burdens of disease due to coal burning and particulates, notes that China has implemented extensive pollution control programs for power plants…

Coal Burning Major Cause of Health Problems in China

The Chinese economy always has potential to surprise because of its tendency to bounce back from economic decline. It is however, no surprise that this situation owes much of the credit to the government stimulus. After witnessing an inevitable slow down since the second quarter it was anticipated that the government would inject additional stimulus this notion may be materializing.As seen in July data, there was no pickup in activity despite the expectations of industry watchers but the new…

The Chinese economy always has potential to surprise because of its tendency to bounce back from economic decline. It is however, no surprise that this situation owes much of the credit to the government stimulus. After witnessing an inevitable slow down since the second quarter it was anticipated that the government would inject additional stimulus this notion may be materializing.As seen in July data, there was no pickup in activity despite the expectations of industry watchers but the new…

The start of third quarter didn’t bring any good news for the Chinese economy. With the manufacturing deteriorating and RMB barely able to maintain its position, July’s PMI stood at 49.9, a decline of 0.1 as compared to last month. This depicts the economic contraction that we have been talking about since the middle of second quarter.  While Caixin composite PMI remained strong at 51.9, we have difficulty seeing this reflected in the data.The last few months saw industries facing declining…

The start of third quarter didn’t bring any good news for the Chinese economy. With the manufacturing deteriorating and RMB barely able to maintain its position, July’s PMI stood at 49.9, a decline of 0.1 as compared to last month. This depicts the economic contraction that we have been talking about since the middle of second quarter.  While Caixin composite PMI remained strong at 51.9, we have difficulty seeing this reflected in the data.The last few months saw industries facing declining…

July Output in China Indicates Further Economic Weakening

China

Ningbo Port Company Limited primarily provides container, iron ore, crude oil and other cargo handling and related services. The Company also provides integrated logistics and other businesses.

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Ningbo Port (601018 CH)

Chinese PMI Data Mildly Surprising

POST PMI OF AUGUST IS VERY INTERESTINGThe PMI for August is out and intriguing. Compared to last month’s PMI of 49.9, this month’s PMI is .5...

Christopher Balding

Container Shipping - Freight Rates Bottoming Out ?

Carriers have withdrawn extremely low spot market freight rates on some, but not all, routesDrewry’s Global Freight Rate Index, a weighted average...

Drewry Maritime Financial Research

Coal Burning Major Cause of Health Problems in China

A comprehensive study published last week by Tsinghua University and the Health Effects Institute found that coal combustion is the single largest...

Bixmoor

Early Reading on Chinese August Data

The Chinese economy always has potential to surprise because of its tendency to bounce back from economic decline. It is however, no surprise that...

Christopher Balding

July Output in China Indicates Further Economic Weakening

The start of third quarter didn’t bring any good news for the Chinese economy. With the manufacturing deteriorating and RMB barely able to maintain...

Christopher Balding

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