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YZJ Shipbldg SGD
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The Only Shipbuilding Blue Chip in SGX!
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BinderyT
Elite |
23-Oct-2024 14:38
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IMF - Ok. Yellen? It' s none of her business. US State Treasury shouldn' t be commenting on monetary or fiscal polices of another country.
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leroy55
Veteran |
23-Oct-2024 14:20
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but why it didnt even move despite 2 rally stimulus?
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AhTan888
Senior |
23-Oct-2024 13:14
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Same pattern everyday. Morning trade up, afternoon slowly let it come down and closed one two cents lower everyday, volume getting thinner . | ||||||||
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MrBear12
Supreme |
23-Oct-2024 11:55
Yells: "Cast all our anxieties on Jesus for He cares for us" |
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Good call by the imf and fed heads. I suppose china political leadership will take note. | ||||||||
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leroy55
Veteran |
23-Oct-2024 11:49
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China&rsquo s stimulus measures not enough, Yellen and IMF chief economist sayCHINA&rsquo S latest stimulus measures will not meaningfully boost domestic demand, leaving a major source of trade friction intact, US Treasury Secretary Janet Yellen and International Monetary Fund (IMF) chief economist Pierre-Olivier Gourinchas said on Tuesday (Oct 22). Yellen and Gourinchas said separately they had not seen any announcement so far from China&rsquo s central bank and its finance ministry that would boost demand enough to absorb excess production and boost growth. &ldquo Our view has been that raising consumer spending in China as a share of GDP (gross domestic product) is really important, along with measures to address problems in the property sector,&rdquo Yellen said at a press conference at the start of the IMF and World Bank annual meetings in Washington. &ldquo So far I would say I haven&rsquo t really heard any policies on the Chinese side that address that.&rdquo Gourinchas told a news conference on the IMF&rsquo s latest forecasts that China&rsquo s fiscal stimulus measures so far lacked detail and therefore were not included in the IMF&rsquo s China growth outlook, which was cut by two-tenths of a percentage point to 4.8 per cent. Monetary policy stimulus to boost lending announced by the People&rsquo s Bank of China last month would do little to materially lift growth, he said. In an interview, Gourinchas said earlier that China&rsquo s industrial policy could be tipping the scales in some specific industries, but it was not the root cause of the country&rsquo s growing exports and external surpluses. Gourinchas pushed back on some of the US-driven narrative surrounding China&rsquo s excess industrial capacity, saying that macro factors including a lack of domestic demand in China and excess consumption in the US were the key drivers of higher Chinese trade surpluses. He said the increased exports from China, which were helping to keep the country&rsquo s growth from slowing further, according to new IMF forecasts, were &ldquo not primarily because of industrial policies in China or elsewhere. It&rsquo s mostly driven by macro forces&rdquo . The biggest of these was low consumer spending which, amid a property market crisis that had damaged a key source of household wealth, had caused some production to be &ldquo naturally channelled towards the export sectors&rdquo . Yellen&rsquo s warningsWhile Yellen agrees on the need to boost Chinese consumer spending and reduce savings as a share of GDP, she has taken a harder view of view of Chinese overcapacity, saying that &ldquo utterly enormous&rdquo subsidies threaten US manufacturing jobs, particularly in electric vehicles, batteries, solar cells and semiconductors, all of which were hit with steep US tariff hikes last month. US-China economic and financial working groups from the Treasury and Chinese finance and commerce ministries will meet in Washington over the next week to try to come to some common understandings on Chinese industrial capacity, Yellen said. Gourinchas said there were some sectoral impacts from Chinese subsidies that could distort trade, but that was a matter for the World Trade Organization. He added the IMF was working hard to measure the impact of industrial subsidies in China and other economies with dominant state sectors, but transparency had been difficult. Support measures, he said, were not often line items that showed exactly what the government was spending. The way to reduce US-China imbalances was to boost domestic demand to soak up the production now being diverted to exports, Gourinchas said. This would require Chinese authorities to resolve problems with the property sector that were hurting consumer confidence. &ldquo Then, you need to convince the Chinese households and firms that they can do more consumption and more investment and less saving,&rdquo Gourinchas said. &ldquo That requires, for instance, developing social safety nets that will provide for old age, that will provide for healthcare etc.&rdquo For the US, fiscal tightening would help slow excess demand for imports from China. The Fund has long advocated that Washington raise taxes to put its debt on a downward path. REUTERS |
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leroy55
Veteran |
22-Oct-2024 16:02
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Ocean freight rates from China set to weaken amid waning demand, overcapacityOcean freight rates for goods leaving Chinese ports are expected to drop further in the next two months amid a glut of container vessels. China& rsquo s slowing exports could also weaken demand. The outlook for the shipping industry is clouded by uncertainties created by heightened geopolitical tensions and concerns about recession in some parts of the global economy, Cai Huixing, president of Shanghai Shipowners& rsquo Association, said in a media briefing on Thursday. & ldquo The fourth-quarter is normally a low season for ocean freight,& rdquo he said. & ldquo We expect shipping rates to slump. As shipowners take actions to tackle the overcapacity problem, the rates are likely to rebound in 2025.& rdquo Do you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team. The cost of shipping a 20-foot equivalent unit (TEU) container from Shanghai to Europe has weakened from more than US$5,000 in July. Exporters had front-loaded shipments for the holiday season to pre-empt US tariff hikes and avoid disruptions in the Red Sea following attacks on ships by Yemen& rsquo s Houthi rebels. Cai& rsquo s remarks echoed forecasts earlier this week by global freight booking platform Freightos that ocean carriers would have to brave rough seas through end-2024 given depressed freight rates. Still, the threat of wider war in the Middle East could push container freight rates higher. Ports in Shanghai handled 49.2 million TEUs in 2023, up 3.9 per cent from a year earlier, which helped the commercial and financial hub of mainland China retain the volume crown worldwide, which it has held since 2010 when it overtook now second-placed Singapore. & ldquo Trans-Pacific ocean rates are now 30 per cent below their July peaks,& rdquo Judah Levine, head of research at Freightos, said in a research note on Tuesday. & ldquo With the early end to peak season, we should expect rates to continue easing.& rdquo China& rsquo s exports grew 2.4 per cent in September from a year earlier, versus 8.7 per cent in August, while carriers began to worry about the oversupply of new container vessels. The pace was slower than the 6.2 per cent consensus forecast by economists compiled by data provider Wind. More than 200 new ships are due to be delivered to freight operators in 2024, according to consultancy Alphaliner. They will bring a fresh capacity of 2.83 million TEUs to the industry, it added. The previous record for annual increase was 1.7 million TEUs in 2014. Cai said some vessel owners may reduce their capacity next year to shore up freight rates and restore the industry& rsquo s better times like pre-Christmas in 2021 amid the Covid-19 pandemic. During the peak season for ocean transport with Chinese-made goods bound for the US and Europe in August that year, dozens of exporters fought over container slots, paying as much as 10 times the normal rates to ship their cargo. |
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leroy55
Veteran |
22-Oct-2024 15:53
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China&rsquo s steel export surge prompts concerns it could add to trade tensionsDomestic real estate slump has led Chinese steel producers to seek out overseas markets amid overcapacity crisis China&rsquo s steel exports hit an eight-year high last month as the industry grapples with overcapacity from a property downturn and weak domestic demand, prompting warnings that the surge in exports could intensify trade tensions.
Overseas shipments of steel reached 10.15 million tonnes in September, up by 25.9 per cent year on year to the highest level since June 2016, according to customs data. But the price of exported steel fell by 11.62 per cent year on year last month. In the first eight months of the year, China exported 66.818 million tonnes of steel, up 31.8 per cent year on year, but the value of its steel exports fell by 10.7 per cent. China produces more than half the world&rsquo s steel, and mainly uses it in areas such as construction, infrastructure, machinery and cars. The construction sector historically accounted for 35 per cent of domestic steel consumption, but the prolonged crisis in China&rsquo s real estate sector has led to a slowdown in construction activity.
As of August, new home starts had declined by 22.5 per cent year on year, prompting steel manufacturers to seek overseas markets for their output. The major overseas destinations for Chinese steel in the first eight months of the year were Vietnam, accounting for 10.25 per cent of exports, South Korea (8.71 per cent), and Indonesia (5.25 per cent). &ldquo I think ultimately, the problems are twofold, one is that the low-end steel has an overcapacity issue but the high-end does not. It is part of a supply-side structural problem,&rdquo said Yan Liang, an economist at Willamette University in the US state of Oregon. China&rsquo s annual steel output hit 100 million tonnes in 1996 and surged sevenfold over the next decade. Despite policies to curb output from 2016, rising profits drove production until further capacity cuts were implemented in 2020. &ldquo The demand side also faces pressure, as the housing sector slump reduced the demand for steel,&rdquo Liang said, adding that the sector&rsquo s export push could increase trade frictions. China is facing more trade investigations from multiple countries over its steel overcapacity, and this year has already been subjected to 28 such trade investigations from 12 economies, including the European Union, the United States, Brazil, Vietnam and Malaysia, according to the Ministry of Commerce&rsquo s China Trade Remedies Information platform.
In the first eight months of last year, there were only two related trade investigations, both initiated by the US, according to the website. Analysts have argued for continued regulation of steel production in line with carbon emission targets, and more mergers and acquisitions, exits, and technological improvements to weed out low-end producers. As of September 6, 95.7 per cent of 247 sampled steel enterprises in China were operating at a loss, according to steel consultancy Mysteel. It projected that steel exports would reach 100 million tonnes this year, the highest level in eight years, with the export of overcapacity posing increased risks of trade investigations. Last week, the China Iron and Steel Association organised a &ldquo necessary and timely&rdquo meeting to address the domestic overcapacity crisis. &ldquo We must address issues like &lsquo zombie capacity&rsquo [unviable enterprises sustained by government subsidies] as well as the ineffective removal of outdated production capacity,&rdquo the association&rsquo s China Metallurgical News reported after the meeting. Addressing a news conference on Monday, customs spokesman Lu Daliang rejected claims of steel overcapacity, saying that most of the steel produced in China is used domestically. |
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leroy55
Veteran |
22-Oct-2024 15:47
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China shipbuilder shores up yuan&rsquo s use in trade via landmark containership dealHudong-Zhonghua Shipbuilding is due to deliver six vessels to a Hong Kong containership lessor by 2028 A prominent state-owned Chinese shipbuilder known for being at the centre of the nation&rsquo s naval modernisation has signed a deal that will help advance the yuan&rsquo s internationalisation while further consolidating China&rsquo s leading role in containership manufacturing. China&rsquo s Hudong-Zhonghua Shipbuilding, based in Shanghai, has entered into an agreement with Hong Kong-based containership lessor Seaspan Corporation for the construction of six containerships, each with a capacity of 13,600 TEUs (20-foot equivalent units), according to a statement posted on social media on Friday. The order also marked the first such deal made in yuan, the statement added, without providing details of the purchase price. International shipbuilding contracts are usually settled in US dollars. &ldquo It is one of the few large shipbuilding orders signed directly by foreign shipowners with Chinese shipbuilding companies using this new payment method,&rdquo the statement said. &ldquo It is of great significance to promote the internationalisation of the yuan.&rdquo A subsidiary of China State Shipbuilding, Hudong-Zhonghua said the container ships were designed with sustainability and low-energy use in mind. The vessels, measuring 336 metres (1,002 feet) in length, 51 metres (167 feet) in width and 30.2 metres (99 feet) in depth, are due for delivery between 2026 and 2028, the statement said. The yuan&rsquo s use in settling the transaction will help Hudong-Zhonghua reduce foreign-exchange risks, enhance profitability and improve market competitiveness, the company added. Financing costs will also be lowered for shipowners, and it will lift efficiency in trade, according to the statement.
Despite the yuan lacking full convertibility, China has stepped up efforts to promote the Chinese currency&rsquo s use in international trade in recent years. In August, the yuan retained its position as the fourth-most-active currency for global payments by value, with a share of 4.69 per cent compared with the world-leading US dollar&rsquo s 49.07 per cent, according to the latest data from the Society for Worldwide Interbank Financial Telecommunication (Swift), the world&rsquo s largest interbank messaging service. In terms of global shipbuilding orders, China has gradually pulled ahead of South Korea amid intense competition between their respective shipyards.
From January to September, China completed 36.34 million deadweight tons (DWT) in shipbuilding, an 18.2 per cent year-on-year increase, while securing 87.11 million DWT in new orders, up 51.9 per cent, according to data from the Ministry of Industry and Information Technology (MIIT) on October 10. By the end of September, the total accumulated orders reached 193.3 million DWT, a year-on-year rise of 44.3 per cent, the MIIT said. During this period, China accounted for 55.1 per cent of global ship completions, 74.7 per cent of new orders, and 61.4 per cent of total accumulated orders, in terms of DWT, the ministry added. |
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Winnertakeall
Elite |
22-Oct-2024 10:17
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People also ask
Is Yangzijiang a buy or sell?
The overall consensus recommendation for Yangzijiang Shipbuilding (Holdings) is Buy.
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Winnertakeall
Elite |
22-Oct-2024 09:50
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Upcoming events on Yangzijiang Shipbuilding (Holdings) Ltd.
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MrBear12
Supreme |
21-Oct-2024 16:25
Yells: "Cast all our anxieties on Jesus for He cares for us" |
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Me too
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Winnertakeall
Elite |
21-Oct-2024 14:58
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Yangzijiang Shipbuilding expects favourable rulings in arbitration against subsidiariesThe claims will not adversely affect the group' s financial position for 2024.
Yangzijiang Shipbuilding said its three wholly-owned subsidiaries have " a reasonably good prospect of success in the arbitrations" initiated against them over an alleged breach of contract. After terminating shipbuilding contracts inked on 5 November 2021 for the purchase of four vessels, certain entities initiated arbitration in London against Jiangsu Tianchen Marine Import & Export Co., Jiangsu Yangzi Xinfu Shipbuilding Co., Ltd., and Jiangsu New Yangzi Shipbuilding Co. The claimants also commenced arbitration proceedings against the three subsidiaries in respect of the contract signed on 30 December 2021 for the purchase of six vessels. The total value of the 10 shipbuilding contracts is approximately US$900m. In a bourse filing, the company said its subsidiaries have " good arguable defences and, accordingly, a good arguable case that the claims should be denied." " Based on the evidence of the respondents expert witness, the quantum of the claims is incorrectly measured and highly inflated," the company added. The company added that the claims will not have a material adverse impact on the group financial position for the financial year ending 31 December 2024. |
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leroy55
Veteran |
21-Oct-2024 10:25
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why this chinese company is not benefitting from the chinese stilmulant? | ||||||||
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MrBear12
Supreme |
20-Oct-2024 13:47
Yells: "Cast all our anxieties on Jesus for He cares for us" |
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It's on a bull run. Bears scrambling....
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BinderyT
Elite |
20-Oct-2024 13:13
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No one knows, its a complex situation. I' m bullish on longer term (> 5 years) as China is the world technology leader, best supply/manufacturing base and will surpass US as largest economy.
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HuatAh7898
Elite |
20-Oct-2024 12:49
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will Chinese stocks continue it' s run up next week? | ||||||||
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leroy55
Veteran |
18-Oct-2024 16:31
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Chinese stocks rebound as PBOC reinforces support for marketChinese stocks advanced on Friday following a slew of positive headlines from the central bank, which reinforced its determination to support the market. The CSI 300 Index gained as much as 3.7%, rebounding from a three-day loss, with chip shares the top performers. A gauge of Chinese stocks listed in Hong Kong also rose more than 3%. The People&rsquo s Bank of China (PBOC) kicked off a specialised re-lending facility to help companies buy back shares and a swap facility that offers institutional investors liquidity to purchase stocks. Both programs were unveiled at the central bank&rsquo s blockbuster briefing in late September. Also adding support were comments by President Xi Jinping, who said science and technology should be at the forefront in advancing Chinese modernisation. The developments provided a welcome relief for investors, who have been clamoring for more policy support after the rally lost momentum. Fresh data released Friday showed authorities need to accelerate the stimulus implementation to reach the annual growth target, with economic expansion slowing in the third quarter. The PBOC announcements are &ldquo definitely helping sentiment after the wrong interpretation of press conferences the past few weeks,&rdquo said Matthew Haupt, a portfolio manager at Wilson Asset Management Ltd. &ldquo The market finally may accept we will receive new information in a piecemeal fashion rather than delivered in a big announcement.&rdquo The gains driven by the central bank measures, however, will likely be capped unless met by an equally-strong expansion in fiscal spending. Authorities have repeatedly disappointed investors with piecemeal steps after the surprise stimulus blitz unveiled by the central bank in late September. The onshore equity benchmark slipped into a correction on Thursday after a high-profile press briefing on measures to support the property market ended with no major outlays. Views are increasingly diverging on whether investors should chase the rally at this stage. Li Bei, founder of Shanghai Banxia Investment Management Center, wrote in a WeChat post earlier this week that now is the time for retail investors to buy stocks. That&rsquo s despite caution from the likes of Morgan Stanley Wealth Management that the stimulus measures aren&rsquo t enough to repair the struggling economy. |
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pkli899
Supreme |
17-Oct-2024 15:30
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Zhao Bao mentioned tentatively 4.11.24.
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s100125
Elite |
17-Oct-2024 09:44
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Business update coming in less than a month time, hope will have some good news. | ||||||||
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Login20
Master |
16-Oct-2024 21:03
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You think I believe in you hahaha with your way of investing. Still is non of my business don' t have to inform here or bull shot here
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