In 2012, China s ship exports amount to 36.127 billion U.S. dollars, down by 13.4%, and the export volume was 2,748,300 ships, a year-on-year decrease of 3.9%. And the average export price reached $ 13,100 / vessel, a year-on-year decline of 9.9%.
Calculated by the turnovers of exports, Hong Kong, Singapore and Panama were the top three export destination of China s ship industry. From January to November 2012, China s exports to Hong Kong, China amounted to $ 9.316 billion, down by 3.6%; exports to Singapore amounted to $ 5.329 billion, down by 0.3%, while the exports to Panama reached $ 2.557 billion, a year on year decline of 3.7%. Among them , Hong Kong s market share increased from to 25.1% (from January to November 2011) to 27.3% (from January to November) ;likewise? Singapore s market share increased from 13.9% to 15.6% ; and the Panamanian market share increased from 6.9% to 7.5% over the same period.
From January to November 2012, China had made a total of $ 26.516 billion ship export in its top ten export markets, accounting for 77.8% of the overall ship export. Export destination countries and regions ranked from the fourth to tenth were Liberia, South Korea, the Marshall Islands, Germany, Malta, the Netherlands and Cyprus respectively.
- Winterruption Festival on Granville Island 2 The annual Winterruption Festival is an all-ages arts festival that includes theatre, live music, food, and local and international arts. The mix of free and ticketed events include several foodie events, kids’ theatre, art walks, open art studios, and live music from Coastal Jazz and Blues Society. Runs Friday, February 22 – Sunday, February 24.
- Talking Stick Festival3 The annual Talking Stick Festival is a celebration of Aboriginal performance and art, featuring music, dance, theatre, visual art and storytelling. Runs through Sunday, March 3.
- February Food Truck Fest at the Vancouver Winter Farmers Market4 The Winter Farmers Markets (outside Nat Bailey Stadium) doubles its food carts–hosting 18 total–for this food truck fest, which includes covered seating and live music. Happens Saturday, February 23.
Australian lamb and mutton exports surged last month, with lamb increasing 45% year-on-year to 15,200 tonnes and mutton up 79% on the previous January to 12,800 tonnes.
In January, there were also record beef exports from Australia (55,147 tonnes) as a result of increased supply from sustained dry conditions, the latest Rabobank agribusiness monthly for February showed.
In New Zealand, total sheep meat exports for December increased 51% on the previous December to 35,157 tonnes, driven by record export volumes to China, which increased threefold to 11,053 tonnes.
However, reflecting the weak state of the major export markets, overall returns ($234 million) increased 4% year-on-year with the average export value in December settling at $6.66kg freight on boat (FOB) – the lowest average return per kg since September 2008.
Lamb prices have continued to ease since the beginning of December, underpinned by dry conditions and tightening feed supply, as well as sluggish returns from export markets.
North Island lamb prices averaged 464c/kg at the start of February, 33% lower than a year earlier, while South Island lamb prices fell 29%, averaging 466c/kg.
December wool exports were 25% larger year-on-year at 8300 tonnes, bringing the cumulative seasonal total to 57,500 tonnes (clean), a 17.4% increase year-on-year.
The value of all wool exports for the 2012-13 season declined 15% year-on-year, driven by lower fine and coarse crossbred wool export prices.
Average export values during December for venison hit a five-year low, with returns settling at $10.31 kg FOB.
New Zealand beef exports during December increased 17% year-on-year and remained relatively steady on the five-year December average, at 32,831 tonnes.
Underpinning the growth was an increase in shipments to the US (15,757 tonnes), which jumped 29% on the previous December, with ongoing tight US domestic supplies supporting demand for New Zealand product.
New Zealand milk production was around 5% higher this season to date but dry weather was taking its toll in the North Island, with production now falling significantly.
Milk flows were expected to start falling behind the previous year on a monthly basis from February onwards.
The detection of dicyandiamide (DCD) in New Zealand dairy products had created headlines globally. While not a health risk, the uncertainty for consumers and the need for testing regimes and regulations worldwide would take some time to address, the report said.
The BNZ’s latest Rural Wrap said many parts of the North Island were still dealing with dry conditions and it was hurting pastoral farming in particular.
Trans Net LLC is your Single Source Logistics Provider in the Middle East with the headquarters based in Dubai, the UAE.
We specialize in freight forwarding services: Single Logistics Solutions in the UAE and GULF, Project Cargo Handling, Air Chartering, Freight Operations in the most challenging emerging markets (Africa, CIS countries) and Conflict Zones (Afghanistan, Iraq & others).
Trans Net is an experienced Neutral Freight Forwarder from/to/across CIS and Caspian Region for Oil and Gas, Mining, Industrial and Energy Industries.
Photo credit: Yolk s Breakfast Food Truck
Attention Vancouver eaters. Although Street Food City II 1has just ended, Vancouver s food trucks just keep on trucking collaborating on more exciting opportunities for diners in search of food cart pods.
Vancouver Farmers Markets2 is hosting its first ever February Food Truck Fest3. All February, you ll find double the usual number of food trucks at the Winter Farmers Market4, held Saturdays from 10am to 2pm at Nat Bailey Stadium5.
Buttermilk pancakes and maple whipped cream from Yolk s Breakfast6. Panko-breaded fish and Kennebec chips from Feastro7. Fig and chickpea tagine from Ze Bite8. Comforting congee from JJ s9. Try them all and weigh in.
February Food Truck Fest is a food truck audition. Vancouver Farmers Market shoppers are invited to vote10 on their favourite food trucks and the most popular will be invited to join the roster as regulars at the busy summer markets. There are two categories to vote on: Best Market Menu Item and Best of the New Recruits.
Get the full list of participating food trucks after the jump.
Participating Food Trucks at February Food Truck Fest
- Yolk s Breakfast:11 Irresistible locally-sourced breakfast/brunch options including bennys, buttermilk pancakes, fried chicken waffles and truffle hash brown skewers.
- Blue Smoke BBQ:12 Blue Smoke s tag line is Low and Slow on the Go because their pork is smoked for almost 16 hours.
- Chilitank: 13 The best mobile chili tank in town! Try chili served hot from a 1943 military soup kitchen.
- Cr perie La Boh me: Sweet and savoury buckwheat crepes served on-site from a charming gypsy caravan.
- Slavic Rolls: 14Slavic Rolls offers a great tasting pastry, made fresh in front of customers.
- Eli s Serious Sausage:15 Eli serves up premium sausages handmade with B.C. pork and all natural ingredients.
- Feastro The Rolling Bistro: 16Feastro is the famous purple truck with the award winning seafood tacos, fish & chips, salads and chowders.
- Vij s Railway Express: 17Celebrity chef Vikram Vij s latest venture brings his creative Indian cuisine to the streets.
- JJ s Trucketeria: 18The brightest yellow food truck you ve seen yet, serving seasonal creations made from scratch with a unique cultural mix of flavours.
- Le Tigre:19 Chinese street food with a West Coast concept.
- Old Country Pierogi:20 Old Country Pierogi serves homemade pierogies (regular and gluten-free!) with sweet and savoury fillings.
- Pig on the Street: 21Bacon. Bacon. Bacon. And sustainability.
- Taser Grilled Cheese:22 Serving upgraded and innovative takes on an old favorite.
- The Kaboom Box:23 The Kaboom Box is dedicated to local and sustainable food. They specialize in salmon and oysters and also make a mean poutine with gravy made from local mushrooms.
- Transylvania Fresh: Delicious homemade pork-stuffed and vegetarian cabbage rolls.
- Ze Bite24: Vancouver s premier French cuisine food truck featuring delicious stews and specialty sandwiches made from scratch with locally sourced ingredients.
Vancouver Winter Farmers Market takes place Saturdays 10am to 2pm at Nat Bailey Stadium 4601 Ontario Street. There will be covered seating and live music for February Food Truck Fest.
- ^ Street Food City II (www.insidevancouver.ca)
- ^ Vancouver Farmers Markets (www.eatlocal.org)
- ^ February Food Truck Fest (www.eatlocal.org)
- ^ Winter Farmers Market (www.eatlocal.org)
- ^ Nat Bailey Stadium (goo.gl)
- ^ Yolk s Breakfast (yolks.ca)
- ^ Feastro (www.feastro.ca)
- ^ Ze Bite (www.zebite.ca)
- ^ JJ s (www.facebook.com)
- ^ invited to vote (www.eatlocal.org)
- ^ Yolk s Breakfast: (yolks.ca)
- ^ Blue Smoke BBQ: (www.bluesmokebbq.ca)
- ^ Chilitank: (www.chilitank.com)
- ^ Slavic Rolls: (www.facebook.com)
- ^ Eli s Serious Sausage: (www.eateli.com)
- ^ Feastro The Rolling Bistro: (www.feastro.ca)
- ^ Vij s Railway Express: (www.vijsrailwayexpress.com)
- ^ JJ s Trucketeria: (www.facebook.com)
- ^ Le Tigre: (www.letigrecuisine.ca)
- ^ Old Country Pierogi: (www.oldcountrypierogi.com)
- ^ Pig on the Street: (www.pigonthestreet.com)
- ^ Taser Grilled Cheese: (tasersandwiches.com)
- ^ The Kaboom Box: (www.thekaboombox.com)
- ^ Ze Bite (www.zebite.ca)
- ^ @TJerven (twitter.com)
Another one of the more prominent themes among bond ETFs last year was growing speculation that high-yield bonds were approaching bubble territory. Calls for asset bubbles is an old investing avocation, and since the global financial crisis, it seems that every time an asset class’s popularity rises too quick for the comfort of some, a bubble must be right around the corner.
Talk of a junk bond bubble seemed to start in earnest in the second quarter of 2012, prompting a spate of coverage of the topic1. Later in the year, there were reports of redemptions from popular junk bond ETFs such as the iShares iBoxx $ High Yield Corporate Bond Fund (NYSE: HYG2).
Those reports may have fueled the fire of the junk bond bubble prediction, but most mainstream media coverage of the issue ignored the fact that while HYG saw some modest outflows here and there, some other new high-yield bond ETFs became home to soaring inflows3.
In other words, some important points about the efficacy of a junk bond bubble in the current environment are being missed, according to Market Vectors Portfolio Manager Fran Rodilosso.
“I think there is a difference so far between what we are seeing at the beginning of 2013 and the types of credit bubbles we have seen historically,” said Rodilosso. “A bubble is built on excessive leverage, and modern bubbles have been fueled by leveraged buyouts, real estate speculation, and structured products with a high degree of embedded leverage.”
While 2013 is still young, investors to this point, have scoffed at talk of junk bond bubble, sending major high-yield bond ETFs modestly higher to start the new year. HYG, the largest junk bond ETF by assets, is 0.7 percent to start the new year while its primary rival, the SPDR Barclays High Yield Bond ETF (NYSE: JNK4) has gained 0.1 percent.
Noteworthy is the fact that the SPDR Barclays Short Term High Yield Bond ETF (NYSE: SJNK5), JNK’s short duration equivalent, now has almost $668.6 million in assets under management, according to State Street data6. That is up from $518.7 million on December 4.
Clearly, quantitative easing, which has depressed yields on U.S. Treasuries, has contributed to a yield chase. However, as Rodilosso notes, credit spreads between junk bonds and Treasuries are not at concerning levels.
“Yields have been pushed down by a highly aggressive central bank policy, with the result that yield-oriented investors have been pushed into owning lower-rated credits,” said Rodilosso. “As a result, the yields on riskier debt are as low as they have been. But the credit spreads, the difference between the yield on high yield bond and a Treasury security, are actually closer to their historic average.”
One issue that may be fueling the junk bubble chatter is new issuance, which rose to an all-time high of $306 billion through the end of October7.
In years past, that might have implied increased leveraged buyout activity or companies using debt to fund dividends, but Rodilosso highlights a different possibility.
“Whereas during a more classic’ bubble a vast majority of debut issuance has historically funded takeovers, dividends, and massive capital spending, 2012′s record issuance was still, for the most part done for the purpose of refinancing. That refinancing was done at lower interest rates, reducing the cost of debt for many borrowers, while reducing the amount to be paid back over the next two years.”
Rodilosso oversees $1.4 billion in assets across several Market Vectors ETFs, including the Market Vectors Fallen Angel High Yield Bond ETF (NYSE: ANGL8) and the Market Vectors Emerging Markets Local Currency Bond ETF (NYSE: EMLC9).
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
- ^ prompting a spate of coverage of the topic (www.benzinga.com)
- ^ HYG (www.benzinga.com)
- ^ some other new high-yield bond ETFs became home to soaring inflows (www.benzinga.com)
- ^ JNK (www.benzinga.com)
- ^ SJNK (www.benzinga.com)
- ^ according to State Street data (www.spdrs.com)
- ^ all-time high of $306 billion through the end of October (soberlook.com)
- ^ ANGL (www.benzinga.com)
- ^ EMLC (www.benzinga.com)
- ^ here (www.benzinga.com)
- ^ Bonds (www.benzinga.com)
- ^ Long Ideas (www.benzinga.com)
- ^ News (www.benzinga.com)
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Whitehaven Coal has applied for emergency approval to truck coal from its Narrabri mine after a train derailment.
Shipments are expected to interrupted until Christmas when the track repairs are completed.
Trains have been unable to move coal between Narrabri underground mine, in north west NSW, and the Port of Newcastle after the track was damaged on November 28.
The company says trucking coal is the best way to avoid production and financial losses due to the expected month-long stoppage.
On Thursday Whitehaven said it had received advice from the Australian Rail Track Corporation (ARTC) that it expects the track to return to operation by December 25.
The company has applied under environmental laws to transport up to 80,000 tonnes a week using 59 coal haulage trucks for up to three months.
“The application specifically relates to the emergency transport of coal by road until such time as the damaged railway has been repaired and rail transport of coal can recommence,” Whitehaven said in a statement.
Whitehaven managing director Tony Haggarty said the company had to proceed with contingency planning.
“Should the approval be granted, it would take some time to build up to the maximum permitted trucking level,” he said.
“This is due to both the difficulty in sourcing large numbers of trucks at short notice and the need to manage the process safely through a staged ramp-up.”
If it cannot transport coal from Narrabri, the coal stockpile capacity at the site would be reached this month and operations at the mine would need to cease, the company said.
“This would result in lost production and financial impacts as well as the potential need to dislocate employees to other operations.”
The company says other measures are being taken to avoid any shut down of production.
Whitehaven has provided a traffic assessment and a road noise impact assessment as part of the approvals process.
Shares in Whitehaven were steady at $3.02 at 1336 AEDT.
Growth in international trade is providing huge impetus to the demand for freight forwarding in India. Furthermore, Intercontinental trade is expected to witness considerable growth in next five years. Freight forwarding sector in India has witnessed a significant growth due to robust economic growth. Key economic indicators including 100% FDI in logistics shows a healthy economic outlook for India. Post global slowdown freight forwarding companies have started to venture out into high end logistics solutions. Freight companies will benefit from the considerable planned investments in transportation infrastructure in India. Indian freight forwarding companies are now becoming competitive like their foreign counterparts.
The report begins with an introduction section, defining the market and classifying it into its types. The evolution of the freight forwarder is then projected. A Comparison between Custom Broker, Freight Forwarder & 3PL are given, followed by the value chain and the advantages of freight forwarders over carriers. Freight Forwarders’ Streams of Income are also identified.
Freight Forwarding – Segments & Features section discusses the segments served, services provided and the customer’s benefits from different types of freight forwarding. This section also provides the key characteristics of freight forwarding.
Market overview section provides a brief snapshot of the freight forwarding market both globally and in India. To begin with, it gives a brief overview of global freight forwarding market followed by its market size & growth. Region wise global market size is also given. Major Players in global freight forwarding market are identified from their market share in air freight and sea freight. Subsequently, a brief overview of Indian freight forwarding market followed by its market size & growth is projected. Top 5 Freight Markets in 2011 is identified with estimation in 2020. Attractiveness in freight forwarding market in India is also analyzed indicating the areas of improvement. Factors for selecting transportation mode are also identified in this section.
Sustainable Procurement Guidelines section deals with the sustainable procurement guidelines for freight forwarding. Their implementation in different areas of improvement is also provided. Further, steps to develop a sustainable procurement of freight transportation services are also discussed.
Standard Trading Conditions section deals with the standard trading conditions for freight forwarders.
Drivers & challenges section in the report provides a comprehensive set of factors which boosts and hinders the growth in the market. An analysis of the section brings forth the key drivers fueling growth in the market including growth in international trade, rapid economic growth & FDI in logistics, diversification into logistics business, improved transportation infrastructure and rising competitiveness among domestic companies. While the challenges identified comprises of strategic challenges such as stiff competition from international counterparts, rising freight costs, complex operation, lack of skilled manpower, lack of skilled manpower and poor infrastructure.
Technological Trends section in the report emphasizes the recent trends in the technology adopted in freight forwarding sector such as EDI platform, UPLIFT – universal platform for logistics & integrated freight transport and 4S eTrans built on J2EE platform. Information flow through the logistics value chain is also shown. Further technology adoption by leading players is also given. Two case studies on technology adoption are also discussed.
The competition section profiles the major players in freight forwarding market in India in details within the report which enables readers to get a clear picture of the current competitive scenario. The section lists the basic details of the players such as corporate information, business highlights and key members. The section also features financial analysis of key vendors which in turn provides us with the financial health of players.
Investments section of the report includes investments in freight forwarding market in India. Investments by multinational companies are also identified. Outbound M&A Deals, JVs & other investments by different freight forwarding or logistics companies are provided over the period 2010 – 12.
The strategic recommendations section suggests the recommendation to set up freight forwarding business. This section also puts forward the strategic recommendation for freight forwarders.