Archives from day » 07, September 2010

Freight Rates To Tumble In H2 2010 Due To Overcapacity And Slower Demand

span style=”LINE-HEIGHT: 115%; FONT-FAMILY: ‘Verdana’, ‘sans-serif’; COLOR: black; FONT-SIZE: 8pt; mso-bidi-font-family: Arial; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-ansi-language: EN-CA; mso-bidi-language: AR-SA”(Datamonitor)br //spanspan style=”LINE-HEIGHT: 115%; FONT-FAMILY: ‘Verdana’, ‘sans-serif’; COLOR: black; FONT-SIZE: 10pt; mso-bidi-font-family: Arial; mso-fareast-font-family: Calibri; mso-fareast-language: EN-US; mso-ansi-language: EN-CA; mso-bidi-language: AR-SA”br /International freight rates have increased over H1 2010 due to reduced transport capacity and increased freight demand, a trend that has been reflected in upswings in price indices such as the Baltic Dry Index and Danske Bank’s European Freight Forwarding Index. However, forecasted overcapacity and sluggish growth in freight volumes are expected to reduce rates in H2 2010.br /br /Freight volumes rebounded in 2010, with the strongest recoveries being seen in North America and Asia Pacific. Various macroeconomic indicators have registered an upswing, confirming that economic activity has been in traction. According to the World Trade Organization, merchandise exports grew by 7% in Q2 2010 compared to Q1, primarily driven by the resumption of industrial activity and global trade, and the restocking of inventory. JPMorgan Global Manufacturing PMI has also signaled a recovery in global manufacturing by registering consecutive monthly growth since July 2009. However, the rate of expansion is expected to ease slightly due to the slower recovery seen in Europe and Japan. Read more a href=”http://www.istockanalyst.com/article/viewiStockNews/articleid/4475051″span style=”color:#0000ff;”here/span/a./span


WTO Chief Urges G-20 Leaders To Break Doha Impasse

pspan style=”FONT-FAMILY: ‘Verdana’, ‘sans-serif’; COLOR: black; FONT-SIZE: 8pt; mso-bidi-font-family: Arial”(Associated Press)?xml:namespace prefix = o ns = “urn:schemas-microsoft-com:office:office” /o:p/o:p/span/ppspan style=”FONT-FAMILY: ‘Verdana’, ‘sans-serif’; COLOR: black; FONT-SIZE: 10pt; mso-bidi-font-family: Arial”The head of the World Trade Organization (WTO) on Monday called for Group of 20 leaders to make a big push to break the impasse in the WTO trade negotiations known as the Doha Round, expecting the long-stalled global trade talks may be concluded next year.br /br /The Doha Round of trade talks started in the Qatari capital in 2001 to free up world trade by opening up markets and cutting tariffs and subsidies in rich countries.br /br /But the 153-nation talks collapsed in 2008 as countries failed to meet on issues such as agricultural subsidies and industrial tariffs.br /br /“We all know that this will not happen before the end of this year,” WTO Director-General Pascal Lamy said in a press conference Lamy said more efforts are needed to conclude the pending talks on the Doha Round, adding that the upcoming G-20 summit in Seoul may push the trade talks forward.br /br /“Maybe next year, depending on the progress made on substance,” he said. Read more a href=”http://arabnews.com/economy/article128575.ece”span style=”color:#0000ff;”here/span/a.o:p/o:p/span/p


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China Says Will Increase Imports; Analysts Doubtful

pspan style=”FONT-FAMILY: ‘Verdana’, ‘sans-serif’; COLOR: black; FONT-SIZE: 8pt; mso-bidi-font-family: Arial”(Rediff.com)?xml:namespace prefix = o ns = “urn:schemas-microsoft-com:office:office” /o:p/o:p/span/ppspan style=”FONT-FAMILY: ‘Verdana’, ‘sans-serif’; COLOR: black; FONT-SIZE: 10pt; mso-bidi-font-family: Arial”China has promised to “vigorously” expand imports of key products from around the world to balance its export driven trade, but analysts dismissed it as a mere lip service than a firm commitment. China, the worlds largest exporter, will “vigorously” expand its imports of key products to cut its trade surplus to avoid growing protectionism against its products in different countries, China’s deputy international trade representative Chong Quan said.br /br /“We will especially encourage imports of products the nation is short of, especially advanced technology and key equipment,” Quan was quoted in the official media as saying.br /br /Special attention will be paid to expanding imports from countries that China has a trade surplus with, he said at the China Import Forum. Read more a href=”http://business.rediff.com/report/2010/sep/07/china-to-step-up-imports-amid-growing-criticism.htm”span style=”color:#0000ff;”here/span/a.o:p/o:p/span/p


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Proposed U.S. Cattle Rules More Bull For Canadians?

pspan style=”FONT-FAMILY: ‘Verdana’, ‘sans-serif’; COLOR: black; FONT-SIZE: 8pt; mso-bidi-font-family: Arial”(Winnipeg Free Press)?xml:namespace prefix = o ns = “urn:schemas-microsoft-com:office:office” /o:p/o:p/span/ppspan style=”FONT-FAMILY: ‘Verdana’, ‘sans-serif’; COLOR: black; FONT-SIZE: 10pt; mso-bidi-font-family: Arial”Canadian livestock producers are in the unenviable position of being bystanders in yet another policy debate south of the border that could directly affect their futures.br /br /The United States is Canada’s biggest market for exports of live cattle and hogs and when politicians there decided to move forward with country of origin labelling rules, farmers here took a direct hit on their bottom line — either through reduced marketing opportunities or lower prices.br /br /The latest debate is over new regulations proposed by the U.S. Grain Inspection, Packers and Stockyards Administration (GIPSA). The effects on Canada are less clear.br /br /The new regulations, which are open to public comment, are designed to increase transparency in U.S. cattle markets. They would require a packer, contractor or live-poultry dealer to maintain written records to justify differential pricing offered to producers. Read more a href=”http://www.winnipegfreepress.com/business/proposed-us-cattle-rules-more-bull-for-canadians-102209964.html”span style=”color:#0000ff;”here/span/a.o:p/o:p/span/p


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Planned Border Closings Rankle Communities

span style=”LINE-HEIGHT: 115%; FONT-FAMILY: ‘Verdana’, ‘sans-serif’; mso-bidi-font-family: Arial; mso-ansi-language: EN-CA; mso-bidi-language: AR-SA; mso-fareast-: EN-USfont-size:10;color:black;” span style=”LINE-HEIGHT: 115%; FONT-FAMILY: ‘Verdana’, ‘sans-serif’; mso-bidi-font-family: Arial; mso-ansi-language: EN-CA; mso-bidi-language: AR-SA; mso-fareast-: EN-USfont-family:verdana;font-size:85%;color:black;” (The Gazette)br //spanspan style=”LINE-HEIGHT: 115%; FONT-FAMILY: ‘Verdana’, ‘sans-serif’; mso-bidi-font-family: Arial; mso-ansi-language: EN-CA; mso-bidi-language: AR-SA; mso-fareast-: EN-USfont-size:10;color:black;” br /span style=”font-family:verdana;”Opposition is growing to the Canadian Border Security Agency’s (CBSA’s) recent decision to close two Canadian border stations south of Montreal next spring.br /br /The mayor of Franklin, Suzanne Blair, will be holding a news conference next week to launch a petition drive. And the largest employer in the region, Les Vergers Leahy, has written federal authorities a strong letter of protest.br /br /News of the proposed closings has also been greeted negatively south of the border.br /br /Gary Douglas, president of the Plattsburgh-North Country Chamber of Commerce, told Plattsburgh’s Press-Republican that the unilateral decision by Canada to close the two border stations violates the 2002 U.S.-Canada Smart Border Accord.br /br /“The failure of the Canadian government to co-ordinate with the U.S. government is absolutely mind-boggling,” he said. Read more /spana href=”http://www.montrealgazette.com/news/Planned+border+closings+rankle+communities/3481112/story.html”span style=”font-family:verdana;color:#0000ff;”here/span/aspan style=”font-family:verdana;”./span/span/span


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Odds Rising For Rate Hike Wednesday

pspan style=”FONT-FAMILY: ‘Verdana’, ‘sans-serif’; COLOR: black; FONT-SIZE: 8pt; mso-bidi-font-family: Arial”(The Financial Post)/spanspan style=”FONT-FAMILY: ‘Verdana’, ‘sans-serif’; COLOR: black; FONT-SIZE: 10pt; mso-bidi-font-family: Arial”?xml:namespace prefix = o ns = “urn:schemas-microsoft-com:office:office” /o:p/o:p/span/ppspan style=”FONT-FAMILY: ‘Verdana’, ‘sans-serif’; COLOR: black; FONT-SIZE: 10pt; mso-bidi-font-family: Arial”What a difference a week makes in gauging the state of the Canadian economy. At the start of last week, few market players believed the Bank of Canada would raise its benchmark rate on Wednesday as concern over its largest trading partner, the United States, mounted. The U.S. economy was believed to be on the verge of flirting with a double-dip recession, given the spate of weak economic data traders had grown accustomed to over the summer.br /br /But two key U.S. pieces of August data released last week — the ISM manufacturing index and non-farm payrolls — were better than expected and suggested the North American economic recovery, while sluggish, marches on and is in no real danger of falling into an abyss. This helped trigger a “vicious” sell-off in bonds, in which investors piled in because of fears of a severe economic slowdown.br /br /The result: The probability that Mark Carney, the Bank of Canada governor, will raise interest rates by 25 basis points, to 1%, increased to slightly more than 60% on Friday from less than 50% as of late August.br /br /The good-looking U.S. data “tipped the scale heavily” toward a rate hike, said Douglas Porter, deputy chief economist at BMO Capital Markets. Read more a href=”http://www.financialpost.com/Odds+rising+rate+hike+Wednesday/3487100/story.html”span style=”color:#0000ff;”here/span/a.o:p/o:p/span/ppb style=”mso-bidi-font-weight: normal”span style=”FONT-FAMILY: ‘Verdana’, ‘sans-serif’; COLOR: black; FONT-SIZE: 10pt; mso-bidi-font-family: Arial”Related:/span/bspan style=”FONT-FAMILY: ‘Verdana’, ‘sans-serif’; COLOR: black; FONT-SIZE: 10pt; mso-bidi-font-family: Arial”a href=”http://www.windsorstar.com/business/slow+growth+rate+signal+weaknesses/3488142/story.html”span style=”COLOR: windowtext; TEXT-DECORATION: none; mso-bidi-font-family: ‘Times New Roman’; text-underline: none” /spanspan style=”color:#0000ff;”GDP’s Slow Growth Rate Signal Of Weaknesses/span/a (Windsor Star)o:p/o:p/span/p