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1. voda 15 maart 2018 20:01

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   Shanghai’s 3D printed electric cars to take over in 2019
   
   The News reported that Shanghai’s 3D printing Cultural Museum showcased a display of world’s first 3D printing electric vehicle named LSEV. The tech-genius is expected to be made available in the markets by April 2019. The startup electric vehicle company is exhibiting its first 3D-printed LSEV at Shanghai’s China 3D printing Cultural Museum before its show at the Auto China 2018 in Beijing. Enthusiasts will have to wait another year.
   
   The designers and producers, XEV Limited and Polymaker claim that all the components of LSEV are 3D printed and made from refined and innovative material of corn.
   
   The 3D assembly line saves up to two thirds more time than the traditional assembly line of automobiles.
   
   The LSEV is made up of 57 different components and has a weight of 450 kilograms. 7000 orders for the hybrid car have already been registered from Europe alone. The LSEVs will mostly be used for post logistics and time-sharing lease.
   
   The utilization of 3D printing technologies will make way for decrease in plastic parts and number of components in a car from 2,000 to 57. The investment cost will also be reduced from 70 percent in comparison to traditional cars.
   
   Source : The News

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2. voda 15 maart 2018 20:05

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   Panasonic begins mass production, shipment of automotive lithium-ion batteries in China - Report
   
   ANI reported that shipments will be expanded in the future to reach more destinations, helping to drive the spread of eco-conscious vehicles. Panasonic Corporation has begun mass production of prismatic-type automotive lithium-ion batteries at its factory in Dalian, China, and held a ceremony to mark the first shipment.
   
   The market for eco-conscious vehicles, including hybrids, plug-in hybrids, and electric vehicles, is growing every year thanks to the increase in environmental awareness in recent years.
   
   To respond to the market demand, Panasonic has been gearing up to start production at this factory, which is its first production site for prismatic-type automotive lithium-ion batteries in China.
   
   Amidst expectations of expanding demand for automotive lithium-ion batteries, Panasonic manufactures high-capacity and high-safety prismatic-type batteries at this factory and ships them to the North American and Chinese markets.
   
   Shipments will be expanded in the future to reach more destinations, helping to drive the spread of eco-conscious vehicles.
   
   With the beginning of mass production shipments of automotive lithium-ion batteries from this factory, Panasonic now has a production system covering Japan, United States, and China, three key global locations.
   
   By strengthening the global competitiveness of its automotive batteries with these sites, Panasonic will further expand its automotive battery business in the future.
   
   Source : ANI
3. voda 15 maart 2018 20:06

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   It is now world’s largest EV battery supplier - China’s CATL
   
   The Financial Times quoted China’s electric car battery maker CATL as saying that it has become the largest in the world and is now supplying car companies including BMW and Volkswagen. The company, which is about to raise USD 2bn through a listing in Shenzhen, said it had risen from a top-three supplier to number one with 12GWh of sales last year, according to an IPO prospectus. That puts it ahead of Panasonic, which sold 10GWh last year.
   
   Ningde-based CATL said that it is working with Chinese electric-car start-up Nio, whose investors include top tech companies Tencent, JD.com and Baidu.
   
   CATL’s rapid growth highlights China’s ambition to dominate the supply chain for electric cars, as global carmakers pledge billions of dollars for EV expansion. The battery is the most costly component of electric cars, and the technology is critical for EVs to become competitive with their petrol counterparts.
   
   Source : The Financial Times

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4. voda 15 maart 2018 20:09

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   Over one third auto enterprises in China fail to meet CAFC standard in 2016
   
   Gasgoo reported that 44 automakers, Changan Ford and Great Wall Motor included, failed to meet the passenger vehicle makers’ corporate average fuel consumption (CAFC) standard in 2016, according to the announcement on the calculation results of new energy vehicle (NEV) credits and the CAFC, namely the dual-credit standard.
   
   The announcement was jointly released by four China’s government departments, namely the Ministry of Commerce, the General Administration of Customs, the Ministry of Industry and Information Technology and the General Administration of Quality Supervision, Inspection and Quarantine.
   
   The announcement says that around 80 automakers succeeded in completing the CAFC standard in 2016, including BAIC BJEV, Geely Auto, BMW Brilliance and GAC Motor while 44 automakers failed the standard, including Changan Ford, Great Wall, SAIC Maxus and Hanteng Auto.
   
   124 local auto enterprises produced and imported a total of 24.4947 million vehicles in 2016 (including NEVs, but without the imported vehicles) and the average weight per vehicle was 1,410 kilograms. The actual CAFC value was 6.43L per 100km. The positive fuel consumption credits were 11.7486 million while the negative credits were 1.42 million. The positive credits for NEVs were 989,500.
   
   Out of the 124 enterprises, 96 local automakers built 23.5896 million vehicles in 2016 and the average weight per vehicle was 1,875 kilograms. The actual CAFC value was 6.39L per 100km. The positive fuel consumption credits were 11.3511 million while the negative credits were 1.24 million. The positive credits for NEVs were 928,900.
   
   Source : Strategic Research Institute
5. voda 15 maart 2018 20:11

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   China implements stricter control on the import of waste - Report
   
   GARD reported that certain types of waste which were previously permitted imported into China, are now banned, including plastic, unsorted waste paper and waste raw materials from the textile industry. It is not permitted to import foreign solid waste into China in order to dump, store or dispose of the same. That is provided for under Article 24 of the Chinese Prevention and Control of Solid Waste Pollution Law (2005) (the Chinese Solid Waste Pollution Prevention Law (2005)).
   
   However, Article 25 also provides that, if the foreign solid waste can be used as raw materials, it may be imported to China in certain circumstances. China, a top recycling destination for plastic and paper, is now moving some materials that had previously been considered raw materials for recycling and thus could be imported, onto the banned list.
   
   On 10 August 2017 five Chinese authorities, lead by the Ministry of Environmental Protection, issued updated import lists of foreign solid waste including
   
   1. The list of solid waste banned from being imported (the Banned List),
   
   2. List of solid waste which can be used as raw materials, but is restricted on importation (the Restricted List), and
   
   3. The list of solid waste which can be used as raw materials and with no restrictions on importation (the Unrestricted List).
   
   The authorities involved in the legislation, in addition to the Ministry of Environmental Protection are the Ministry of Commerce, the National Development and Reform Commission, the General Administration of Customs, the General Administration of Quality Supervision, Inspection and Quarantine.
   
   24 types of solid waste in four categories that were previously restricted are banned as of 1 January 2018. The four categories added to the Banned List are plastic wastes (non-industrial use), unsorted waste paper, waste raw materials of textile industry and slag with vanadium.
   
   1. Banned waste papers include recycled paper or paperboard and unsorted scrap paper. Wall paper, copying paper, Tetra Pak and thermal sensitive paper were already on the Banned List.
   
   2. Banned plastics waste includes PET scrap and PET beverage bottles, CD disks scrap, Polyvinyl (PV) scrap; Polystyrene (PS) scrap, and Polyvinyl chloride (PVC) scrap. The plastics products made of them are commonly used in our daily life. For example, PS could be used for disposable hot drink cups and lunch boxes, PVC for bank cards, PET for bottles and containers for food products.
   
   Gard’s correspondent in China, Huatai Insurance Agency & Consultant Services Ltd. has provided an English translation of the three updated lists which can be found.
   
   The stricter control in China on the importation of foreign solid waste is driven by an increasing awareness of the importance of the environment by the Chinese government. According to a notice issued by the Chinese government in 2017 [GBF (2017) No. 70], the relevant regulations on control of import of solid waste are scheduled to be amended again by the end of 2018 and the Chinese Solid Waste Pollution Prevention Law (2005) is due to be amended by the end of 2019. It can be expected that China will take additional measures to further restrict the import of foreign solid waste.
   
   Pursuant to Article 78 of the prevailing Chinese Solid Waste Pollution Prevention Law (2005), the legal consequence of violation of the above ban or control could lead to:
   
   1. An order requiring the return the solid waste back to the originator;
   
   2. A penalty between RMB 100,000 and RMB 1 million (USD 15,700 to USD 157,000); and
   
   3. Criminal prosecution if a crime is established.
   
   Article 78 also makes it clear that the carrier would be required to return any banned solid waste, or solid waste lacking the proper approval, or pay the costs of dealing with such solid waste, if the importer cannot be identified.
   
   Vessels or Members should be particularly vigilant when they are requested to ship waste cargo to Chinese ports. As most of the solid waste is carried in containers it is important to have accurate declaration of cargo before shipment. The importer in China should also be identified to the extent possible, to reduce the carrier’s risk of liability.
   
   Source : GARD

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6. voda 15 maart 2018 20:14

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   China Machine Building International Corporation to build steel plant at Mbarara in Uganda
   
   New Vision reported that China Machine Building International Corporation (CMIC), a Chinese government company, has pledged to establish a USD 100 million iron ore mining and integrated steel plant in Mbarara district. The plant is expected to be fully operational in 18 months. This was disclosed by the General Manager of the Chinese company, Li Fengshan in a meeting with President Yoweri Museveni at his country home in Rwakitura, Kiruhuura district on Saturday.
   
   Welcoming the Chinese delegation, Museveni emphasized the importance of the steel project and said it would go a long way in spurring the much needed development of the infrastructure in Uganda. He said “We need a steel industry very badly because the government does a lot of construction works, especially the construction of dams that needs fresh steel.”
   
   The President further told the Chinese guests that once the steel industry is established, transport costs for steel, would be reduced drastically.
   
   Major problems facing the Ugandan steel industry are primarily low product quality and quantity and shortage of raw materials. Uganda is home to proven high quality iron ore resources in the Eastern and South Western Regions exceeding 100 million tons.
   
   Uganda’s steel and iron industry has also been growing at unprecedented rates averaging over 30% and 40% per annum for imports and exports respectively mainly due to the booming housing and construction sector in the country itself and the region as a whole.
   
   Steel demand in Uganda that is estimated at over 150,000 tons per annum is well above the actual steel production of over 60,000 tons per annum.
   
   Source : New Vision
7. voda 15 maart 2018 20:26

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   GMS update on Shipbreaking in China in Week 10 - STEEL QUANDRY!
   
   Growing concerns for the Chinese steel industry have centered on President Trump’s recent decision to impose a 20% duty on steel and aluminum imports into the United States.
   
   Just what this means for the local steel markets of the global ship recycling destinations remains to be seen. However, if China starts dumping cheap steel (just as it did back in 2015), we will certainly witness a knock on effect and subsequent decline in levels as well although hopefully not as dramatic as in 2015 when the market more than halved in value.
   
   Meanwhile, the Chinese ship recycling market remained even more of a non-entity this week, with Bangladesh and Pakistan prices pushing furiously towards the USD 500/LDT mark as Chinese levels remain stranded in the low USD 200s/LDT, where they have been for much of the year.
   
   Source : Strategic Research Institute

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8. voda 16 maart 2018 16:09

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   Opportunity limited for coal suppliers in China
   
   Biv reported that China's recent attempt to control thermal coal prices in the country in the face of stronger-than-expected demand in January shows that suppliers may continue to experience a decline in opportunities in that market. That’s the assessment of consultancy Wood Mackenzie, which said its long-term projections for weaker demand in the Chinese coal market and the associated lower prices and tighter regulatory environment will remain unchanged, painting a challenging picture for Canadian and American firms that may be looking to China for opportunities.
   
   In February, Wood Mackenzie reported that China was seeing strong demand for thermal coal as a colder-than-normal winter caused power usage to surge. The report said that prices apparently hit 780 renminbi (USD 159) per tonne for the coal at the country’s Qinhuangdao port.
   
   But Beijing’s National Development and Reform Commission quickly implemented a price cap of 750 renminbi (USD 153) on the coal, demonstrating that China’s coal market is becoming increasingly policy-driven and, therefore, more puzzling for “market participants and investors alike,” one analyst said.
   
   Mr Zhai Yu, a Beijing-based senior consultant for northeast Asia with Wood Mackenzie said that “The constrained supply of coal due to a combination of policy and poor weather led to a reported suspension of the seaborne [coal] import ban this winter.” Mr Zhai Yu said that “Sometimes, when the market supply is really tight, the government releases the limit on seaborne imports, but our view is that, once the price drops to a certain level and the supply is no longer tight, we think the government will reinstate the limits.”
   
   Mr Yu added that although Wood Mackenzie originally expected the cap to be difficult to implement – leading to a possible price jump after the lull during the Chinese New Year holidays in mid-February – that situation never materialized as China’s local coal supplies didn’t show any signs of constraint as of the beginning of March.
   
   Mr Yu said that “There’s a number of factors there.” Mr Yu added that “First, China has cut the holidays at domestic coal mines, asking the workers to keep mining to increase the supply. Secondly, China has asked the ports to get more coal at the docks, and seaborne imports have increased after stopping the overseas ban, so the import level for the first month of this year is very high. So while the coal supply in February will be smaller than January, it will see an increase year over year.”
   
   Perhaps the key take-away for North American producers and associates looking to China as a market for thermal coal, Yu added, is that the challenging long-term outlook hasn’t changed as China continues to show its willingness to intervene – in this case, with the price cap at Qinhuangdao – to reach Beijing’s overall objectives.
   
   Mr Yu said that “In the long term, the market outlook, because China is trying to cut seaborne imports, we are forecasting that seaborne import will decline year after year.” Mr Yu added that “So for North American thermal coal, we think that’ll be a problem. If you look at our forecast, that price will continue to slide down until 2021 to 2023. So the opportunity for Canadian or American thermal coal in China, we think, is limited.”
   
   Source : Biv

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9. voda 19 maart 2018 16:13

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   Nieuwe voorzitter Chinese centrale bank
   Vicevoorzitter Yi Gang volgt Zhou Xiaochuan op.
   
   (ABM FN-Dow Jones)Vicevoorzitter Yi Gang wordt voorzitter van de Chinese centrale bank, na het vertrek van Zhou Xiaochuan. Dat heeft het nationale volkscongres van China maandag besloten.
   
   Zhou leidde de centrale bank vijftien jaar. Zijn opvolger, de zestigjarige Yi, studeerde in de Verenigde Staten en staat bekend als voorstander van hervormingen die de markt meer ruimte geven in 's werelds tweede economie. De Chinese premier Xi Jinping, die onlangs de wettige mogelijkheid kreeg om voor onbepaalde tijd aan de macht te blijven, benoemde ook economisch adviseur Liu He tot vicepremier.
   
   Door: ABM Financial News.
   
   info@abmfn.nl
   
   Redactie: +31(0)20 26 28 999
   
   Copyright ABM Financial News. All rights reserved
   
   (END) Dow Jones Newswires
10. voda 19 maart 2018 16:17

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    Japanse export naar China onder druk
    In februari nog wel groei.
    
    (ABM FN-Dow Jones)De export in Japan is in februari wat minder hard dan verwacht gestegen. Dit bleek maandag uit cijfers van de Japanse overheid.
    
    De export steeg op jaarbasis met 1,8 procent, na een dubbelcijferige toename een maand eerder. Economen hadden voor februari gerekend op een stijging van 2,4 procent.
    
    Vooral de uitvoer naar China drukte de groei. De export naar China liep met bijna tien procent terug.
    
    Naar Europa steeg de export daarentegen met 11,5 procent. De uitvoer naar de Verenigde Staten nam met 4,3 procent toe.
    
    De Japanse import steeg in februari met 16,5 procent.
    
    Het handelstekort van Japan kwam uit op 3,4 miljard yen, hoewel er was gerekend op een tekort.
    
    Door: ABM Financial News.
    
    info@abmfn.nl
    
    Redactie: +31(0)20 26 28 999
    
    Copyright ABM Financial News. All rights reserved
    
    (END) Dow Jones Newswires
11. voda 20 maart 2018 14:21

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    'Deze week heffingen Trump tegen China'
    
    Gepubliceerd op 20 mrt 2018 om 07:27 | Views: 2.571
    
    WASHINGTON (AFN/RTR/BLOOMBERG) - De Amerikaanse president Donald Trump maakt naar verwachting deze week bekend tot wel 60 miljard dollar aan importheffingen op te leggen op Chinese producten. Dat meldden ingewijden bij het Witte Huis.
    
    De heffingen zouden vrijdag aangekondigd worden. Volgens de bronnen zijn ze vooral gericht op technologie, telecommunicatie en andere producten van Chinese makelij en komen er ook restricties rond Chinese investeringen in de Verenigde Staten. De regering-Trump beschuldigt China van diefstal van Amerikaanse bedrijfsinformatie voor eigen gewin. Waarschijnlijk zal er wel een periode komen waarin bezwaar aangetekend kan worden tegen de heffingen voordat die daadwerkelijk in werking treden.
    
    China heeft eerder al aangekondigd met tegenmaatregelen te komen bij Amerikaanse importheffingen. De Chinese premier Li Keqiang zei dinsdag nog dat zijn land juist de deur verder wil opzetten voor vrije handel en dat importheffingen verlaagd gaan worden. Ook zal Peking intellectueel eigendom beschermen, aldus de premier.
    
    Kettingreactie
    
    In het Amerikaanse bedrijfsleven zijn er grote zorgen rond de heffingen die Trump wil opleggen aan China. Zo waarschuwden grote bedrijven als Walmart, Amazon, Alphabet, Facebook en Microsoft dat die heffingen ,,een kettingreactie'' aan negatieve gevolgen kunnen veroorzaken voor de Amerikaanse economie en zullen leiden tot stijgende consumentenprijzen, hogere kosten voor ondernemingen en druk op aandelenkoersen.
    
    De nieuwe importtarieven tegen China kunnen de vrees voor een wereldwijde handelsoorlog verder aanwakkeren. Trump heeft al heffingen ondertekend op de import van staal en aluminium die vrijdag in werking treden. Belangrijke handelspartners van de VS, zoals China en de Europese Unie hebben al gedreigd met tegenacties te komen.
    
    Overigens liet de Duitse minister van Economische Zaken Peter Altmaier na overleg in Washington weten dat hij meer optimistisch is geworden dat een internationale handelsoorlog voorkomen kan worden. Altmaier had een ontmoeting met de Amerikaanse handelsminister Wilbur Ross. Volgens Altmaier is er constructief overleg geweest en zien beide partijen een mogelijkheid tot een oplossing van een handelsconflict.
12. voda 20 maart 2018 16:59

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    China solar panel export jump by 78pct in 2017
    
    China exported 37.9 gigawatt of solar panels last year equivalent to 37% of global solar installation up 78% from 2016. According to China Photovoltaic Industry Association data, the Chinese solar manufacturing industry which last year accounted for 55 to 83% of global supply of products ranging from raw material polysilicon to solar panels will have to brace for hard times.
    
    Access to the US market has come into question since the Trump Administration announced a 30% tariff on solar panel imports from China, while India has discussed a 70% duty, threatening access to the world’s second most populous market.
    
    Daiwa Capital Markets in a recent report said that “We believe a down-cycle and de-rating of China’s solar sector is likely to happen in 2018. China’s solar upstream market is set for significant oversupply from 2018.”
    
    Daiwa said it expects a profits squeeze at solar panel makers as domestic installation demand this year falls to 45GW from 53GW last year, while solar panel production capacity rises 10 to 20 per cent across the supply chain.
    
    Mr Frank Haugwitz, founder of Asia Europe Clean Energy Advisory, also projected 45GW of new capacity in China this year, while industry information and analytics provider IHS Markit senior analyst Jessica Jin Feng indicated domestic installation of at least 50GW.
    
    Mr Sun Xingping, president of debt-laden GCL New Energy, one of China’s largest solar farms operators, told reporters that he expected the national installation volume to drop to between 40GW to 45GW this year and 35GW to 40GW next year, adding that the company plans to commission 1GW to 1.5 GW this year, down from 2.5GW last year.
    
    He said the cut back will help lower its total liabilities-to-assets ratio to 80% from 84% last year. The company is in talks to set up a fund with several potential investors to take over some of its solar farms and help lighten GCL’s debt load.
    
    Daiwa analysts said that a surge in newly commissioned global production capacity by 20% amid a demand slowdown could see solar wafer prices fall 15 to 20% this year.
    
    Declining wafer prices during the past decade have supported demand growth. However, analysts say that this year’s projected demand drop in China, the US and India – the top three markets – may squeeze profitability of companies slow to implement cost reductions, especially those without an in-house supply of polysilicon.
    
    The three markets are forecast to take up 60 per cent of global demand, accounting for 108GW this year, according to IHS estimates.
    
    If the forecast is realised, it would imply a marked slowdown in global panel demand growth to around 8 per cent from 30 per cent last year.
    
    Source : SCMP
13. voda 20 maart 2018 17:07

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    China may adopt some of Germany's law on self-driving cars - Mr Hilgendorf
    
    Reported that the Chinese government is evaluating a German law that lays the groundwork for use of self-driving cars, and will likely adopt some of the German rules, a legal expert said. Mr Eric Hilgendorf, who teaches law at the University of Wuerzburg and served on the German government's ethics commission on automated driving, said he had been invited to China in the coming weeks to present information about the law.
    
    Mr Hilgendorf, who will give three lectures at the Renmin University of China Law School and hold high-level meetings about the new legislation, said China had adopted a great deal of German criminal and civil law, albeit with some tweaks, and he expected similar action in this case.
    
    He told Reuters after a speech at an Aspen Institute conference on artificial intelligence "Especially when it comes to technical issues, they're often ready to adopt large sections of our law."
    
    Mr Hilgendorf said that German carmakers could benefit if China adopted similar laws and guidelines on the issue, noting it would mean fewer modifications for exports to China.
    
    Carmakers around the world are teaming up with technology companies in areas such as machine learning and mapping as they race against Silicon Valley companies such as Google, Tesla and Apple to develop autonomous vehicles.
    
    Both industries see huge potential revenues in the market for autonomous vehicles, which could be available for wide use in just two years. But it remains unclear how many drivers will be ready to give up control, and many countries must still put laws in place to allow self-driving cars to hit the road.
    
    Source : Reuters
14. voda 20 maart 2018 19:19

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    Kredietbeoordelaar stelt Noble Group in staat van wanbetaling
    
    Noble Group verkeert in staat van wanbetaling. Dat oordeel velt S&P Global Ratings dinsdag over de noodlijdende grondstoffenhandelaar. Het bedrijf uit Hongkong moest uiterlijk dinsdag een lening terugbetalen inclusief rente, maar heeft dat nog niet gedaan.
    
    Noble Group verkeert in staat van wanbetaling. S&P schroeft waardering terug.REUTERS
    
    Noble moest uiterlijk dinsdag een obligatie van $379 mln dollar en rente aflossen. Eerder deze maand meldde het bedrijf al dat het niet ging lukken om een couponbetaling te doen voor een andere obligatie die een looptijd heeft tot 2022. Voor die betaling heeft Noble nog wel dertig dagen extra de tijd, de zogenoemde grace period, maar het bedrijf liet al weten dat dit niet genoeg is om alsnog aan de verplichtingen te voldoen. Het is voor de kredietbeoordelaar reden om de rating op alle uitstaande obligaties van Noble terug te schroeven van CC naar D. Dat staat voor default, oftewel wanbetaling.
    
    Herstructurering
    Noble Group was ooit de grootste grondstoffenhandelaar van Azië, maar kwam in de problemen toen het anonieme Iceberg Research een rapport publiceerde in 2015. Daarin werd Noble, dat vooral handelt in olie, gas en kolen, beticht van fraude. De bezittingen zouden te hoog gewaardeerd zijn, de schulden te laag. Bovendien had het bedrijf last van de misère in de oliebranche. De waarde van het bedrijf op de beurs in Singapore kelderde van meer dan $6 mrd een paar jaar geleden naar enkele honderden miljoenen nu. Noble Group moest divisies van het bedrijf verkopen aan concurrenten Mercuria en Vitol.
    
    Ondanks die verkopen kijkt het bedrijf aan tegen een schuldenberg van ruim $3,5 mrd. S&P Global Ratings zegt in een verklaring er geen vertrouwen in te hebben dat Noble andere leningen wel zal terugbetalen zolang het bezig is met het herstructureren van zijn schulden.
    
    Lees ook
    Noble Group sluit overeenkomst met helft schuldeisers
    
    Dat wil Noble doen via een een schuld-voor-aandelenruil. Daarbij wordt schuldpapier van beleggers omgeruild voor aandelen. Zo komt Noble Group straks voor 80% in handen van zijn schuldeisers. Mits het plan lukt. Het bedrijf maakte vorige week namelijk bekend dat schuldeisers die samen pakweg 50% van de leningen bezitten de ruil steunen. Dat percentage moet uiteindelijk 75% worden. Noble verwacht dat dit lukt voor eind juli.
    
    Rechtszaak
    Lees ook
    Noble Group wuift kritiek op aandelenruil af
    
    Huidige aandeelhouders zien hun stukken verwateren door de nieuwe plannen. Zij krijgen straks in totaal niet meer dan 10% van het bedrijf in handen. Dat zorgt voor boze blikken, en niet alleen over de herstructurering. Grootaandeelhouder Goldilocks Investments maakte dinsdag vlak voor het nieuwe oordeel van S&P bekend naar de Singaporese rechter te stappen. Volgens de investeringsmaatschappij uit Abu Dhabi heeft Noble Group in het verleden winsten opgepoetst, meldde Bloomberg. Zo zou het makkelijker zijn geweest geld op te halen.
    
    Ook zouden bestuurders, waaronder oprichter Richard Elman en de huidige chairman Paul Brough, zichzelf enorme salarissen hebben uitgekeerd. Die betalingen zouden geheim zijn gehouden voor toezichthouders. De beschuldigingen van Goldilocks komen deels overeen met die van Iceberg Research eerder. Noble Group ontkent die beschuldigingen.
    
    Credit default swaps
    De nieuwe waardering van S&P kan allerlei juridische bijeffecten hebben. Zo kan de trustee, een partij die toeziet op de correcte terugbetaling van de leningen, alsnog geld opeisen bij de rechter. Dan moet wel een kwart van de obligatiehouders daarmee akkoord gaan.
    Beleggers die zich hadden verzekerd tegen een wanbetaling zullen waarschijnlijk ook in actie komen. Zij zijn kopers van zogeheten credit default swaps (cds), die uitbetaald worden op het moment dat een bedrijf in staat van wanbetaling verkeert. Volgens Bloomberg stond er begin februari voor netto $119 mln aan cds'en uit voor Noble.
    
    Erik van Rein
    
    fd.nl/beurs/1246800/kredietbeoordelaa...
15. voda 21 maart 2018 16:37

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    Buitenlandse betaalbedrijven welkom in China
    
    Gepubliceerd op 21 mrt 2018 om 11:47 | Views: 659
    
    PEKING (AFN/BLOOMBERG) - Buitenlandse betaalbedrijven kunnen de Chinese markt betreden. Ze kunnen nu aanvragen doen voor betaalvergunningen en worden daarbij hetzelfde behandeld als Chinese bedrijven, heeft de Chinese nationale bank People's Bank of China laten weten. De Chinese markt voor betalingen is ongeveer 22 biljoen euro waard.
    
    Betalingsbedrijven die interesse hebben moeten een Chinees kantoor openen, betalingsinfrastructuur opzetten en klantinformatie in China opslaan. Premier Li Keqiang beloofde dinsdag al dat de intellectuele eigendommen van buitenlandse bedrijven beschermd zullen worden.
    
    Met het openstellen van de markt voor betalingsbedrijven voldoet China aan de belofte om buitenlandse bedrijven toe te laten tot de financiële markt. Chinese bedrijven zijn namelijk al wel uitgewaaierd naar het buitenland, maar in China waren buitenlandse ondernemingen nog niet welkom. China wil een handelsoorlog met de Verenigde Staten voorkomen.
    
    Er zijn al 260 Chinese bedrijven met een betalingsvergunning, waardoor de markt voor buitenlandse betalingsbedrijven zoals het Nederlandse Adyen mogelijk minder interessant is. Wel kunnen ze misschien een rol spelen in de markt voor betalingen tussen China en het buitenland, verwachten economen van ING.
16. voda 21 maart 2018 16:44

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    'China wil meer concessies rond overname NXP'
    
    Gepubliceerd op 21 mrt 2018 om 07:32 | Views: 1.436
    
    NXP Semiconductors N.V. 14:30
    121,85 -0,78 (-0,64%)
    
    PEKING (AFN/BLOOMBERG) - De Chinese autoriteiten willen meer toezeggingen van het Amerikaanse chipconcern Qualcomm voordat wordt ingestemd met de overname van het Nederlandse NXP Semiconductors. In China zijn er zorgen dat de deal negatieve gevolgen kan hebben voor eigen bedrijven onder meer vanwege de patenten die het gecombineerde bedrijf zou bezitten.
    
    Volgens bronnen wil de Chinese overheid meer bescherming voor lokale bedrijven voordat groen licht gegeven zal worden aan de deal die anderhalf jaar geleden werd aangekondigd. Tot dusver zou Peking niet tevreden zijn met de concessies die Qualcomm heeft geboden. Veel Chinese bedrijven lobbyen bij de overheid om de overname tegen te houden.
    
    Oorspronkelijk was het de bedoeling de overname van NXP eind 2017 af te ronden. Naast langdurig onderzoek door toezichthouders zorgden ook kritische aandeelhouders van NXP voor vertraging. Zij eisten een verhoging van het bod. Daarnaast werd Qualcomm zelf doelwit van een mislukte overnamepoging door branchegenoot Broadcom.
17. voda 21 maart 2018 19:58

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    Self-driving car industry faces critical test after first death - Report
    
    South China Morning Post reported that the death of a woman in Arizona struck by a self-driving car with no human control, the first fatality involving a fully autonomous vehicle, is an event the nascent industry has long dreaded and comes at a sensitive time. Monday’s accident involving an Uber Technologies car is shaping up as the first significant test of how policy makers and the public will respond to the new technology. The incident occurred as companies have been pushing for regulatory clearance to offer self-driving car ride services as soon as next year.
    
    Uber and Alphabet Inc’s Waymo car unit had written U.S. senators urging them to approve sweeping self-driving car legislation “in the coming weeks.”
    
    Automakers and technology companies such as Uber, General Motors and Toyota Motor have made substantial investments that hinge on significant revisions to existing vehicle safety regulations written under the assumption that a licensed human would always be in control of a vehicle.
    
    Auto and technology industry officials have warned that there could be accidents and deaths involving self-driving cars, but they have said countless additional lives would be saved as robotic systems programmed to obey traffic laws took over for distracted, sleepy or impaired human drivers.
    
    Mr Mark Rosenker, a former chairman of the National Transportation Safety Board, said on Monday the public should not overreact to the Uber incident. He noted that 6,000 pedestrians and nearly 40,000 people die annually on U.S. roads in more than 6 million crashes annually.
    
    Mr Rosenker said that “This is going to be a unfortunate obstacle that we are going to have to deal with to regain (the public’s) belief that these devices are safe.”
    
    The incident prompted Uber to suspend all testing of self-driving cars.
    
    The immediate impact of the fatality may be to further delay or change a landmark bill pending in Congress to speed the testing of self-driving cars that was already stalled by objections from a handful of Democrats over safety concerns.
    
    Senator John Thune, a Republican who chairs the Commerce Committee, said the “tragedy underscores the need to adopt laws and policies tailored for self-driving vehicles.”
    
    However, two Democratic U.S. senators on Thune’s committee, Ed Markey of Massachusetts and Richard Blumenthal of Connecticut, said the Uber incident demands a tough response.
    
    Source : South China Morning Post
18. voda 21 maart 2018 20:02

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    Track laying starts for Chinese longest coal transport railway - Report
    
    According to a report by China Youth Online, track laying started on Saturday for the Inner Mongolia-Jiangxi Railway, China’s longest heavy haul railway line. The new railway is the longest special line for the transportation of coal across China. It starts in western Inner Mongolia and ends at central Jiangxi Province in eastern China, crossing seven provinces, with 80 stations located along the route. The 1,837 kilometers is expected to carry around 200 million tons of coal each year.
    
    The railway is a major project undertaken in response to China’s new national strategy of north-south coal transportation.
    
    Construction on the railway started in 2015. Current plans call for construction to be completed December next year.
    
    Source : ECNS

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19. voda 21 maart 2018 20:21

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    China steel output cut may pressure TiO2 feedstock higher
    
    ICIS reported that China's environmental crackdown would lead to a decline in steel output, leading to drop in iron-ore mining and a subsequent fall in production of a feedstock for titanium dioxide. TiO2 would join a large number of chemicals whose production has been disrupted by the government's move to cut down on pollution. One of the feedstocks used to produce TiO2 is ilmenite, which is a by-product of magnetite.
    
    Mr Hassan Ahmed, an analyst for Alembic Global Advisors said that magnetite mining accounts for more than 90% of the ilmenite produced in China. He made his comments in a research note.
    
    Mr Ahmed said that for every 10-50 units of magnetitie that is mined, 1 unit of ilmenite is produced. He said that China relies on magnetite for the iron ore it used to make steel.
    
    As part of its 13th five-year plan, China plans to curb pollution by shutting down 500m tonnes of coal production and 100m-150m tonnes of steel production by 2020, Ahmed said.
    
    Mr Ahmed estimates that Chinese ilmenite production could fall by 40-60% if China reaches this goal, he said. In terms of global ilmenite production, output would fall by 6-10%.
    
    Source : ICIS
20. voda 21 maart 2018 20:23

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    China's raw coal output up in 2017
    
    ECNS reported that China's raw coal output rose in 2017 due to rebounding demand and high-quality capacity. According to the National Bureau of Statistics, in 2017, the output of raw coal stood at 3.52 billion tonnes, up 3.3 % from the previous year. The reading marks the first positive growth since 2014, after the 2016 figure hit a six-year low.
    
    China's crude oil output dropped 4.1 % year on year to 191.5 million tonnes in 2017.
    
    NBS data showed that the decline eased by 2.8 pct points from the drop in 2016.
    
    In contrast, natural gas output grew 8.2% year on year to hit 148 billion cubic meters, 6.5% points higher than last year's growth.
    
    According to the NBS, the increase was driven by vigorous domestic demand for natural gas, after coal consumption dropped and coal-to-gas heating conversion projects proceeded.
    
    According to the General Administration of Customs, China's imports of crude oil surged beyond 400 million tonnes in 2017, while imports of natural gas rose 26.9 % year on year to 94.6 billion cubic meters.
    
    Source : ECNS

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