Monday 28 December 2015

CMA CGM upgrades Asia-Mexico, Central America, WCSA links

Sea News
French shipping giant CMA CGM has announced series of changes to its Asia-Central/South America (ACSA) services linking Asia to Mexico, Central America and West Coast South America. Port coverage will increase and will be improved with a Busan east bound call, Balboa east board and bCoronel on ACSA 2 and Balboa east and west calls on ACSA 3. CMA CGM will keep providing four direct services from Asia to Mexico, west coast South America and Caribbean, four weekly departures from Asia to Mexico, Central America, west coast South America and Caribbean.




Assocham Revises India FY16 Export Outlook Downwards

NDTV
Industry body Assocham has further lowered its outlook for India's exports to $255-260 billion for 2015-16, which stood at $310 billion in the previous fiscal year, disagreeing with the government's claim that there is "no crisis" on the outward shipments front. Assocham in September this year had forecast the country's exports to be around $265-268 billion. The cumulative value of exports during April-November 2015-16 stood at $174.30 billion as against $213.77 billion in the same period last year, down 18.46 per cent. Contraction in exports continued for the 12th month in a row in November as outward shipments shrank 24.43 per cent to $20.01 billion amid a global demand slowdown. "Given the further decline in the last few months, the chamber is revising its outlook downward, disagreeing with a pre-dominant government view as if there is no big problem in the sector," Assocham stated.

China to dump cheap steel with likely export price fall

Economic Times
The world needs to get used to cheap Chinese steel, with export prices poised to fall again next year as the biggest producer adjusts to demand that's dropping for the first time in a generation. The price of hot-rolled coil, used in everything from fridges to freight containers, may decline about 13% next year, Colin Hamilton, Macquarie Group's head of commodities research, said by phone from London. The nation's steel exports, which have ballooned to more than 100 million tonne this year, may stay at those levels for the rest of the decade as infrastructure and construction demand continues to falter. While falling steel prices are partly driven by the collapse in raw materials and lower output costs, "it's just more to do with the fact the industry was built for demand growth that hasn't come through," Hamilton said. "We're past peak steel demand. I think provided there is overcapacity in the Chinese system and given where demand is, it's going to be like this for some time".

Manufacturing growth slowed down, says Ficci

Asian Age
India Inc is saddled with higher inventory levels for the October-December quarter compared to the 30 per cent in the last quarter, says a survey by an industry body. According Ficci’s quarterly survey on Indian manufacturing sector, 32 per cent of respondents have reported that they are carrying more than their average inventory levels of finished goods than the earlier quarters. Another 56 per cent said that their average inventory levels are the same. The study attributes this less than optimistic outlook to falling exports besides domestic factors like poor demand conditions, high interest cost etc. The survey was conducted on 336 manufacturing units from both large and SME segments, with a combined annual turnover of over Rs 3.94 lakh crore took part in the study. The percentage of respondents expecting higher growth in Q3 has gone down to 55 per cent as compared to 63 per cent in the previous quarter.

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