This document discusses recent trends in oil and gas, implications for Asia's tank storage industry, and geopolitical dynamics. Key points include: changing market dynamics are creating new demand patterns, supply sources, and trading relationships; infrastructure projects are increasing connectivity across Asia and between Asia and Europe through initiatives like China's One Belt One Road strategy; and geopolitical risks are rising due to tensions over territories and energy security concerns as China expands its influence.
Making Better Use of RMB- Bank of China's Solution as presented by Qian Hongguang, Executive Vice President, People's Bank of China- Panama on July 10, 2017 at a conference titled, 'Chinese Renminbi in the Caribbean-Opportunities for Trade, Aid and Investment,' held at the Hilton Barbados Resort.
Highbank is a Canadian aggregate exploration and development company. Highbank has earned a 100% interest in, and has obtained a NI 43-101 Resources evaluation of a +70 million tonne tidewater aggregate gravel tenure in northwestern British Columbia, Canada. The Company also holds a NSR interest in two moly/copper properties in Ireland.
Sustainable Sanitation in Eastern Europe and Germany-Claudia WendlandPomcert
Conference: Sustainable Wastewater Management in River Basin Management Plans in Baltic Sea Region
Sustainable Sanitation in Eastern Europe and Germany
Central Asia Energy-Water Development ProgramUNDP Eurasia
The Central Asia Energy-Water Development Program (CAEWDP) aims to improve energy and water security in Central Asia through regional cooperation. It will address water shortages, energy access issues, and economic losses from weather events. The CAEWDP will build on lessons from successful multi-country programs by addressing physical infrastructure needs, analyzing costs and benefits of cooperation, and supporting livelihoods. It will focus on energy development, energy-water linkages, and water productivity through activities like regional planning, modeling, capacity building, and infrastructure investments over the next several years. Partnerships with countries, regional organizations, and donors will be critical to the program's success.
The document summarizes the European Union's strategy for cooperation with Central Asian states. It outlines the EU's goals of establishing regular political dialogue at the foreign minister level, supporting an "e-silk highway" initiative and education programs, and holding human rights dialogues. The EU also seeks to foster regional cooperation among Central Asian states and with other regions. It will take an open approach in dialoguing with regional organizations in Central Asia.
Kazakhstan and China have developed a bilateral oil cooperation centered around the Kazakhstan-China oil pipeline. The pipeline began operations in 2005 and connects Kazakhstan's western oil fields to China. It helps meet China's growing oil demand and provides Kazakhstan an export route independent of Russia. However, constraints like insufficient pipeline capacity have prevented it from reaching its full potential. While both countries benefit from the partnership, China may gain greater control over Central Asian oil prices in the long run.
Kazakhstan has pursued an active multi-vector foreign policy since gaining independence in 1991. It has built strong economic and diplomatic relationships with Russia, China, and Western countries. Kazakhstan has also positioned itself as a mediator in international conflicts. To strengthen its international engagement, Kazakhstan has hosted major international events and promoted education programs to develop a new generation fluent in multiple languages.
China-Central Asia Energy Security Analysis (1)Sun Hwak Kwon
This document discusses China's pursuit of energy security in Central Asia. It outlines how China views energy security through both an economic and geopolitical lens. Key Central Asian countries that China focuses on include Kazakhstan due to its large oil reserves and shared border with China. The document also discusses China's strategies for negotiating control over Central Asian oil and gas fields and pipelines, as well as the role of multilateral organizations like the Shanghai Cooperation Organization in China's energy diplomacy.
Making Better Use of RMB- Bank of China's Solution as presented by Qian Hongguang, Executive Vice President, People's Bank of China- Panama on July 10, 2017 at a conference titled, 'Chinese Renminbi in the Caribbean-Opportunities for Trade, Aid and Investment,' held at the Hilton Barbados Resort.
Highbank is a Canadian aggregate exploration and development company. Highbank has earned a 100% interest in, and has obtained a NI 43-101 Resources evaluation of a +70 million tonne tidewater aggregate gravel tenure in northwestern British Columbia, Canada. The Company also holds a NSR interest in two moly/copper properties in Ireland.
Sustainable Sanitation in Eastern Europe and Germany-Claudia WendlandPomcert
Conference: Sustainable Wastewater Management in River Basin Management Plans in Baltic Sea Region
Sustainable Sanitation in Eastern Europe and Germany
Central Asia Energy-Water Development ProgramUNDP Eurasia
The Central Asia Energy-Water Development Program (CAEWDP) aims to improve energy and water security in Central Asia through regional cooperation. It will address water shortages, energy access issues, and economic losses from weather events. The CAEWDP will build on lessons from successful multi-country programs by addressing physical infrastructure needs, analyzing costs and benefits of cooperation, and supporting livelihoods. It will focus on energy development, energy-water linkages, and water productivity through activities like regional planning, modeling, capacity building, and infrastructure investments over the next several years. Partnerships with countries, regional organizations, and donors will be critical to the program's success.
The document summarizes the European Union's strategy for cooperation with Central Asian states. It outlines the EU's goals of establishing regular political dialogue at the foreign minister level, supporting an "e-silk highway" initiative and education programs, and holding human rights dialogues. The EU also seeks to foster regional cooperation among Central Asian states and with other regions. It will take an open approach in dialoguing with regional organizations in Central Asia.
Kazakhstan and China have developed a bilateral oil cooperation centered around the Kazakhstan-China oil pipeline. The pipeline began operations in 2005 and connects Kazakhstan's western oil fields to China. It helps meet China's growing oil demand and provides Kazakhstan an export route independent of Russia. However, constraints like insufficient pipeline capacity have prevented it from reaching its full potential. While both countries benefit from the partnership, China may gain greater control over Central Asian oil prices in the long run.
Kazakhstan has pursued an active multi-vector foreign policy since gaining independence in 1991. It has built strong economic and diplomatic relationships with Russia, China, and Western countries. Kazakhstan has also positioned itself as a mediator in international conflicts. To strengthen its international engagement, Kazakhstan has hosted major international events and promoted education programs to develop a new generation fluent in multiple languages.
China-Central Asia Energy Security Analysis (1)Sun Hwak Kwon
This document discusses China's pursuit of energy security in Central Asia. It outlines how China views energy security through both an economic and geopolitical lens. Key Central Asian countries that China focuses on include Kazakhstan due to its large oil reserves and shared border with China. The document also discusses China's strategies for negotiating control over Central Asian oil and gas fields and pipelines, as well as the role of multilateral organizations like the Shanghai Cooperation Organization in China's energy diplomacy.
The One Belt One Road initiative proposed by China focuses on connectivity and cooperation among over 60 countries in Asia, Europe, the Middle East and Africa. It consists of two components: the land-based "Silk Road Economic Belt" and the sea-based "21st Century Maritime Silk Road". The initiative aims to develop prosperity in underdeveloped parts of China and partner countries along the routes. It covers key sectors like infrastructure, energy, manufacturing and financial services. While it presents many opportunities, there are also risks involving uncertainty from government approvals, cultural differences, political instability and legal inconsistencies among the diverse partner countries.
Sulaiman Liu's Speech on OIC Economy & Trade Forum 2016Sulaiman Liu
This document discusses opportunities for Islamic finance in the context of China's Belt and Road Initiative and the internationalization of the Chinese yuan. It outlines China's growing economic cooperation with OIC countries and initiatives like the Asian Infrastructure Investment Bank that are financing infrastructure projects in several Muslim-majority nations. The document argues that Islamic finance principles could help finance projects along the Belt and Road through instruments like cross-border yuan-denominated sukuk bonds. Overall, the author sees economic cooperation under the Belt and Road and yuan internationalization as a historically significant opportunity for closer China-OIC ties, where Islamic finance can serve as a catalyst.
Latin America meets China - A lookback at key Sino-LATAM transactionsBautista Vermal Azcona
China's investment in Latin America over the last five years increased substantially, closing in on the US and on the EU's commanding position. The Chinese will continue to be a dominant force in the region, particularly in the oil and gas business. Through understanding Chinese companies' deals in LATAM, and considering Chinese cultural background, we will share some learning’s to be considered when doing business with them. By reducing the business and cultural gap we can increase our chances of a successful transaction with these formidable partners."
“One Belt One Road and RMB Internationalization—A Strategic Alliance” Larry Catá Backer
Focus: Consideration of the peripheral structures of Chinese trade and investment policy and its potential effects on RMB internationalization. Thesis: RMB internationalization is one small part of a larger more ambitious project: (1) External: An integral part of Chinese trade and development policies; an interlocking set of objectives to solidify the all around central position of China; (2) Internal: Core of socialist modernization and development of productive forces within China; situating China at center of global commerce essential for next stage of economic and political development.
Structures of discussion: (1) Situating RMB internationalization within broader issues of Chinese policy; (2) The OBOR initiative and related development efforts. Last section considers putting the pieces together; and (3) Tie it back to issues of reality (trade and investment use) and perception (consensus of others states)
Why are OBOR and RMB internationalization linked? (1) Stability; (2) Development; and (3) Control
The expansion of the Panama Canal is scheduled for completion in mid-2016. This will allow larger methanol tankers to pass through the canal, changing global methanol trade routes. The expanded canal can accommodate vessels carrying up to 66,000 metric tons of methanol, compared to the current maximum of 40,000 metric tons. This is likely to significantly reduce transit times and costs between the US Gulf and Asian markets like China. China is a major importer of methanol and its internal distribution network and developing ports will play a key role in handling increased methanol shipments through the expanded Panama Canal. Geopolitical events, commodity price fluctuations, new regulations and plant capacities will all impact the future methanol market.
Silk Road Economic Belt Financial Strategies, 2015Brien Desilets
The document discusses financial strategies for funding projects along China's Silk Road Economic Belt initiative. It outlines various sources of funding including the $40 billion Silk Road Fund, Chinese policy banks and state-owned enterprises, multilateral development banks like the AIIB and NDB, sovereign wealth funds, and individual project financing models. Specific projects highlighted that could receive funding include the Gwadar Port in Pakistan, Karot Hydropower Plant in Pakistan, and the Belgrade-Budapest high speed rail line. The document stresses the need for projects to generate revenue and involve local stakeholders to support long-term sustainability of investments.
The document discusses factors impacting dry bulk shipping markets. It summarizes that newbuilding orders for dry bulk carriers are falling and increased demolition is bringing more discipline to supply. Demand for iron ore and coal is supporting freight rates as China remains the largest importer of these commodities. Overall, market participants expect a stable freight environment in 2017 due to balanced supply and steady demand from China and India.
Bahia, Brazil offers investment opportunities in its growing infrastructure sector. Many projects are available in railways, ports, roads, and stadium construction for the 2014 World Cup. Asia, led by China, is driving the global economic recovery and countries like Brazil are becoming important new engines of global growth. Bahia aims to develop strategic transport projects to connect its ports and airports to central Brazil via an intermodal system utilizing railway, ports and roads. Foreign direct investment inflows are increasing in Bahia due to incentives and opportunities in commodities and infrastructure.
The document summarizes China-Pakistan Economic Corridor (CPEC), a $46 billion investment in infrastructure projects between China and Pakistan. CPEC aims to transform Pakistan into a regional economic hub through projects like roads, railways, pipelines and industrial zones. It will generate employment, reduce poverty, and improve infrastructure. CPEC will also benefit China by providing cheaper access to Middle Eastern oil through the Gwadar port, reducing transportation time from 45 to less than 10 days. The projects will be funded through various Chinese and Pakistani government investment funds and loans.
Dear members,
We are pleased to announce that the issue July of CECCA Newsletter (Issue No.12) is released, you may find it in the attachment. Please don't hesitate to contact us if you have any comment.
What are in this issue?
i. China's maritime silk road (in Special Observer)
As a part of the China's 'Belt and Road Initiative', the maritime silk road plays an important role in this grand plan. Our senior consultant, Mr. Richard Scott, will provide some new insights in his article.
ii. Blockchain and the shipping industry (in Academic Frontier)
Digital technology is changing our world in many ways, and the shipping industry will benefit from those changes. Blockchain, being such a buzz word, has the potential in changing the shipping industry, such as making contracts 'smarter', making shipping documents like Bills of lading much safer and more convenient, etc. To provide you with a insight into blockchain technology and its possible effects on the shipping industry, we invited our members to write a series of articles on this topic, in which they will introduce the concept of 'blockchain' and their opinions on what kind of changes it might lead to. Any comment or feedback are more than welcome. In this issue, the first article is 'Blockchain-based Bill of Lading'. More articles on Blockchain will be published in future issues.
iii. Human rights
We are pleased to include a revised version of Andrew Drzemczewski's Lecture, 'Human Rights in Europe: An Insider’s Views' in this issue, in which the author provided with an in-house view of a selected number of human rights issues dealt with by the Council of Europe that he was involved in.
iv. Law of the sea
Editor’s Comment on Z. Zheng, Legal Effect of the Chinese Traditional Maritime Boundary Line
v. News in Brief
China's new policy in three Pilot Free Trade Zones concerning the shipping industry and the government released the 2018 Negative List; Two new international commercial courts were established in China and news on the IMO high-level forum.
vi. Brief Introduction – Senior Consultant of CECCA
Prof. Yash Tandon
We hope you will find this issue of interests. If you would like for your colleagues also to receive our monthly newsletter, or if you do not want to receive future issues, please email:contact@cecca.com.cn
Best wishes,
CECCA Editorial Department
Presentation for the International Working Group on Export Finance, chaired by the European Commission in Brussels, by Ralph Lerch, Chair of the Export Credit Working Group of the European Banking Federation.
This was the first occasion on which the EBF had been invited to speak in this forum. The EBF’s intervention reported from the commercial banking sphere on export credit conditions.
The IWG originated in a meeting between President Barack Obama and China’s then Vice-President Xi Jinping, in February 2012. They agreed to create an international working group among major providers of government-backed loan guarantees, which would discuss guidelines for export credit financing. The initiative was confirmed at the Sino-US Strategic and Economic Dialogue on 3-4 May 2012.
This multilateral process brings together the Participants to the OECD Arrangement (the existing framework for government-supported export credit) and other major export credit providers including China, Brazil, the Russian Federation, Turkey, Malaysia and Israel. For the European Commission, the forum represents a new challenge in its “outreach activities”, aimed at engaging new international players in the export credit activity in international disciplines on export credits.
China-Europe Commercial Collaboration Association (CECCA) newsletter on comp...Shu-Chien Chen
1.Special Observer
1.1 China’s Economy, A Mesmerising Focus for Shipping..........................................................................2 1.2 China International Commercial Court – International Commercial Litigation and Diversified Dispute Resolution for Belt and Road Initiative..........5
2. Arbitration
Third-Party Funding in Arbitration: Potential Trends
and Implications for China (I)......................................9
3. EU Tax Law
Predicting the ‘Unpredictable’ General Anti- AvoidanceRule(GAAR)inEUTaxLaw(I)...............25
4. News in Brief
4.1 Latest Reports on Maritime Law of China were published by the Chinese Courts in August 2018, several typical maritime cases were selected to clarify the applicable laws and provide adjudicative guideline........................................................................35
4.2 “Regulation on the Jurisdiction of Shanghai Financial Court” was released by the Supreme People’s CourtofP.R.China.......................................................35
4.3 Trade War Shock: Will the Domestic Shipping Industry Bear the Brunt of that? .................................35 4.4 The Fortune’s Wheel is turning.............................35
5. Brief Introduction – CECCA Senior Consultant
Mr. Richard J. Scott.....................................................36
The Belt and Road from the other end: A European Perspective by Alicia Garcia...HKUST IEMS
The document analyzes the Belt and Road initiative from a European perspective. It provides background on what the Belt and Road initiative entails, including infrastructure investment goals. It then draws comparisons between the Belt and Road and the post-World War 2 Marshall Plan that rebuilt Europe. Key similarities discussed include both plans initially focusing on economic reconstruction but later shifting to geopolitical and security goals. The document also empirically analyzes the potential trade impacts of the Belt and Road, finding some European countries may see increased trade while others may see declines. Reduced transportation costs are found to significantly boost international trade.
2 Asian LNG Trading Hubs_CGEP_Report_050318-2.pdfCHESTHATHAKUR1
Henry Hub is a physical location in Louisiana where the Sabine pipeline interconnects with multiple other pipelines. It functions as the delivery point for natural gas futures contracts on the NYMEX. While it is often depicted as a single point, the interconnecting pipelines are actually located over a wider area. Henry Hub provides access to storage facilities and connections to numerous pipelines that allow gas to be transported widely.
North American Crude Markets & Storage Summit Brian Adams
The First Event To Reveal North American Strategies For Maximizing Netbacks In The Volatile Crude Pricing Environment Over 3 Days.
The industry is tirelessly working to manage the "new normal" crude pricing, with the current environment forcing re-evaluation of operations from all North Americas' producers, shippers and traders, as stakeholders adapt to volatility.
With domestic production outstripping demand, the hunt for the strongest markets and the most cost effective modes for supplying them has never been more critical. Further export volumes are being assessed as means to ensure U.S. competitiveness, and traders and shippers require commercial evaluation of said exports urgently. Storage capacity limitations are forcing stakeholders to explore innovative and unprecedented strategies to store their crude, both on and offshore, to capitalize on the contango.
More Related Content
Similar to Tank Storage Asia Thomas Ng 30 Sep 2015 v2
The One Belt One Road initiative proposed by China focuses on connectivity and cooperation among over 60 countries in Asia, Europe, the Middle East and Africa. It consists of two components: the land-based "Silk Road Economic Belt" and the sea-based "21st Century Maritime Silk Road". The initiative aims to develop prosperity in underdeveloped parts of China and partner countries along the routes. It covers key sectors like infrastructure, energy, manufacturing and financial services. While it presents many opportunities, there are also risks involving uncertainty from government approvals, cultural differences, political instability and legal inconsistencies among the diverse partner countries.
Sulaiman Liu's Speech on OIC Economy & Trade Forum 2016Sulaiman Liu
This document discusses opportunities for Islamic finance in the context of China's Belt and Road Initiative and the internationalization of the Chinese yuan. It outlines China's growing economic cooperation with OIC countries and initiatives like the Asian Infrastructure Investment Bank that are financing infrastructure projects in several Muslim-majority nations. The document argues that Islamic finance principles could help finance projects along the Belt and Road through instruments like cross-border yuan-denominated sukuk bonds. Overall, the author sees economic cooperation under the Belt and Road and yuan internationalization as a historically significant opportunity for closer China-OIC ties, where Islamic finance can serve as a catalyst.
Latin America meets China - A lookback at key Sino-LATAM transactionsBautista Vermal Azcona
China's investment in Latin America over the last five years increased substantially, closing in on the US and on the EU's commanding position. The Chinese will continue to be a dominant force in the region, particularly in the oil and gas business. Through understanding Chinese companies' deals in LATAM, and considering Chinese cultural background, we will share some learning’s to be considered when doing business with them. By reducing the business and cultural gap we can increase our chances of a successful transaction with these formidable partners."
“One Belt One Road and RMB Internationalization—A Strategic Alliance” Larry Catá Backer
Focus: Consideration of the peripheral structures of Chinese trade and investment policy and its potential effects on RMB internationalization. Thesis: RMB internationalization is one small part of a larger more ambitious project: (1) External: An integral part of Chinese trade and development policies; an interlocking set of objectives to solidify the all around central position of China; (2) Internal: Core of socialist modernization and development of productive forces within China; situating China at center of global commerce essential for next stage of economic and political development.
Structures of discussion: (1) Situating RMB internationalization within broader issues of Chinese policy; (2) The OBOR initiative and related development efforts. Last section considers putting the pieces together; and (3) Tie it back to issues of reality (trade and investment use) and perception (consensus of others states)
Why are OBOR and RMB internationalization linked? (1) Stability; (2) Development; and (3) Control
The expansion of the Panama Canal is scheduled for completion in mid-2016. This will allow larger methanol tankers to pass through the canal, changing global methanol trade routes. The expanded canal can accommodate vessels carrying up to 66,000 metric tons of methanol, compared to the current maximum of 40,000 metric tons. This is likely to significantly reduce transit times and costs between the US Gulf and Asian markets like China. China is a major importer of methanol and its internal distribution network and developing ports will play a key role in handling increased methanol shipments through the expanded Panama Canal. Geopolitical events, commodity price fluctuations, new regulations and plant capacities will all impact the future methanol market.
Silk Road Economic Belt Financial Strategies, 2015Brien Desilets
The document discusses financial strategies for funding projects along China's Silk Road Economic Belt initiative. It outlines various sources of funding including the $40 billion Silk Road Fund, Chinese policy banks and state-owned enterprises, multilateral development banks like the AIIB and NDB, sovereign wealth funds, and individual project financing models. Specific projects highlighted that could receive funding include the Gwadar Port in Pakistan, Karot Hydropower Plant in Pakistan, and the Belgrade-Budapest high speed rail line. The document stresses the need for projects to generate revenue and involve local stakeholders to support long-term sustainability of investments.
The document discusses factors impacting dry bulk shipping markets. It summarizes that newbuilding orders for dry bulk carriers are falling and increased demolition is bringing more discipline to supply. Demand for iron ore and coal is supporting freight rates as China remains the largest importer of these commodities. Overall, market participants expect a stable freight environment in 2017 due to balanced supply and steady demand from China and India.
Bahia, Brazil offers investment opportunities in its growing infrastructure sector. Many projects are available in railways, ports, roads, and stadium construction for the 2014 World Cup. Asia, led by China, is driving the global economic recovery and countries like Brazil are becoming important new engines of global growth. Bahia aims to develop strategic transport projects to connect its ports and airports to central Brazil via an intermodal system utilizing railway, ports and roads. Foreign direct investment inflows are increasing in Bahia due to incentives and opportunities in commodities and infrastructure.
The document summarizes China-Pakistan Economic Corridor (CPEC), a $46 billion investment in infrastructure projects between China and Pakistan. CPEC aims to transform Pakistan into a regional economic hub through projects like roads, railways, pipelines and industrial zones. It will generate employment, reduce poverty, and improve infrastructure. CPEC will also benefit China by providing cheaper access to Middle Eastern oil through the Gwadar port, reducing transportation time from 45 to less than 10 days. The projects will be funded through various Chinese and Pakistani government investment funds and loans.
Dear members,
We are pleased to announce that the issue July of CECCA Newsletter (Issue No.12) is released, you may find it in the attachment. Please don't hesitate to contact us if you have any comment.
What are in this issue?
i. China's maritime silk road (in Special Observer)
As a part of the China's 'Belt and Road Initiative', the maritime silk road plays an important role in this grand plan. Our senior consultant, Mr. Richard Scott, will provide some new insights in his article.
ii. Blockchain and the shipping industry (in Academic Frontier)
Digital technology is changing our world in many ways, and the shipping industry will benefit from those changes. Blockchain, being such a buzz word, has the potential in changing the shipping industry, such as making contracts 'smarter', making shipping documents like Bills of lading much safer and more convenient, etc. To provide you with a insight into blockchain technology and its possible effects on the shipping industry, we invited our members to write a series of articles on this topic, in which they will introduce the concept of 'blockchain' and their opinions on what kind of changes it might lead to. Any comment or feedback are more than welcome. In this issue, the first article is 'Blockchain-based Bill of Lading'. More articles on Blockchain will be published in future issues.
iii. Human rights
We are pleased to include a revised version of Andrew Drzemczewski's Lecture, 'Human Rights in Europe: An Insider’s Views' in this issue, in which the author provided with an in-house view of a selected number of human rights issues dealt with by the Council of Europe that he was involved in.
iv. Law of the sea
Editor’s Comment on Z. Zheng, Legal Effect of the Chinese Traditional Maritime Boundary Line
v. News in Brief
China's new policy in three Pilot Free Trade Zones concerning the shipping industry and the government released the 2018 Negative List; Two new international commercial courts were established in China and news on the IMO high-level forum.
vi. Brief Introduction – Senior Consultant of CECCA
Prof. Yash Tandon
We hope you will find this issue of interests. If you would like for your colleagues also to receive our monthly newsletter, or if you do not want to receive future issues, please email:contact@cecca.com.cn
Best wishes,
CECCA Editorial Department
Presentation for the International Working Group on Export Finance, chaired by the European Commission in Brussels, by Ralph Lerch, Chair of the Export Credit Working Group of the European Banking Federation.
This was the first occasion on which the EBF had been invited to speak in this forum. The EBF’s intervention reported from the commercial banking sphere on export credit conditions.
The IWG originated in a meeting between President Barack Obama and China’s then Vice-President Xi Jinping, in February 2012. They agreed to create an international working group among major providers of government-backed loan guarantees, which would discuss guidelines for export credit financing. The initiative was confirmed at the Sino-US Strategic and Economic Dialogue on 3-4 May 2012.
This multilateral process brings together the Participants to the OECD Arrangement (the existing framework for government-supported export credit) and other major export credit providers including China, Brazil, the Russian Federation, Turkey, Malaysia and Israel. For the European Commission, the forum represents a new challenge in its “outreach activities”, aimed at engaging new international players in the export credit activity in international disciplines on export credits.
China-Europe Commercial Collaboration Association (CECCA) newsletter on comp...Shu-Chien Chen
1.Special Observer
1.1 China’s Economy, A Mesmerising Focus for Shipping..........................................................................2 1.2 China International Commercial Court – International Commercial Litigation and Diversified Dispute Resolution for Belt and Road Initiative..........5
2. Arbitration
Third-Party Funding in Arbitration: Potential Trends
and Implications for China (I)......................................9
3. EU Tax Law
Predicting the ‘Unpredictable’ General Anti- AvoidanceRule(GAAR)inEUTaxLaw(I)...............25
4. News in Brief
4.1 Latest Reports on Maritime Law of China were published by the Chinese Courts in August 2018, several typical maritime cases were selected to clarify the applicable laws and provide adjudicative guideline........................................................................35
4.2 “Regulation on the Jurisdiction of Shanghai Financial Court” was released by the Supreme People’s CourtofP.R.China.......................................................35
4.3 Trade War Shock: Will the Domestic Shipping Industry Bear the Brunt of that? .................................35 4.4 The Fortune’s Wheel is turning.............................35
5. Brief Introduction – CECCA Senior Consultant
Mr. Richard J. Scott.....................................................36
The Belt and Road from the other end: A European Perspective by Alicia Garcia...HKUST IEMS
The document analyzes the Belt and Road initiative from a European perspective. It provides background on what the Belt and Road initiative entails, including infrastructure investment goals. It then draws comparisons between the Belt and Road and the post-World War 2 Marshall Plan that rebuilt Europe. Key similarities discussed include both plans initially focusing on economic reconstruction but later shifting to geopolitical and security goals. The document also empirically analyzes the potential trade impacts of the Belt and Road, finding some European countries may see increased trade while others may see declines. Reduced transportation costs are found to significantly boost international trade.
2 Asian LNG Trading Hubs_CGEP_Report_050318-2.pdfCHESTHATHAKUR1
Henry Hub is a physical location in Louisiana where the Sabine pipeline interconnects with multiple other pipelines. It functions as the delivery point for natural gas futures contracts on the NYMEX. While it is often depicted as a single point, the interconnecting pipelines are actually located over a wider area. Henry Hub provides access to storage facilities and connections to numerous pipelines that allow gas to be transported widely.
North American Crude Markets & Storage Summit Brian Adams
The First Event To Reveal North American Strategies For Maximizing Netbacks In The Volatile Crude Pricing Environment Over 3 Days.
The industry is tirelessly working to manage the "new normal" crude pricing, with the current environment forcing re-evaluation of operations from all North Americas' producers, shippers and traders, as stakeholders adapt to volatility.
With domestic production outstripping demand, the hunt for the strongest markets and the most cost effective modes for supplying them has never been more critical. Further export volumes are being assessed as means to ensure U.S. competitiveness, and traders and shippers require commercial evaluation of said exports urgently. Storage capacity limitations are forcing stakeholders to explore innovative and unprecedented strategies to store their crude, both on and offshore, to capitalize on the contango.
Similar to Tank Storage Asia Thomas Ng 30 Sep 2015 v2 (20)
1. Thomas Ng
Chairman, The Global Ports
Forum
Game-Changers in Oil & Gas:
Implications for Asia Tank Storage
2. I Recent Oil & Gas Trends
II AIIB, RMB Internationalisation, One Belt-One Road Strategy, etc
III Implications
3. Asia Oil & Gas game-changers
• Changing dynamics, game, players and rules
• New demand map, changes in energy mix,
and unconventional supply sources
• Shift in trading and investment patterns
• Volatility in prices, technological breakthroughs
• Environment, efficiency and climate change
• Is energy security a national security matter?
• Heightened geopolitical, cyber and other risks
4. Complex dynamics in Asia
• Substantial deposits of rich natural resources
• The prizes of the new Great Game - Pipelines,
tanker routes, petroleum consortiums and PSCs
• AIIB, One Belt-One Road, South China Seas,
China Silk Road Fund
• East of Baku – it is China and Russia to play
• Sanctions against Russia hurt Central Asia
• Intra-Central Asian conflicts, political
succession risk
7. Central Asia and China…
• “Pan-Asian global energy bridge”
from Persian Gulf to China
• Kazakhstan, Turkmenistan and
Uzbekistan in China’s energy
security nexus
• China to reduce dependence on ME
oil, avoid “Malacca Dilemma” and
address Xinjiang’s unrest
• Kazakhstan and Uzbekistan’s
uranium deposits for China’s 30
new nuclear power plants
10. Some of Asian Oil & Gas projects
• China’s energy “Silk Road” over Central Asia
• $45 bn Southern Gas Corridor by 2018
• Iraq’s Kurdish gas from early 2018
• Iran is back in the oil and gas game
• Turkmen gas to the Caspian and Afghanistan
• China’s claims in the South & East China Seas
• Mynamar’s new pipeline to Yunan, China
• Pakistan’s China Pakistan Economic Corridor
11. 11
Roles of individual members
ASEAN: facilitate economic integration through AEC and
ASEAN+1 FTAs
ASEAN’s economic role is reinforced by political
considerations;
strategic location astride EastAsia’s critical trade routes
neutral position in the traditional tensions of Northeast
Asian countries
intermediary role between China/US and China/India
China, Japan and Korea: pursue a high level of liberalization
for CJK FTA
High standards as a platform for RCEP
China needs to pursue comprehensive economic reforms
Peaceful and Prosperous Regional Economic Order
12. 12
The Asian Infrastructure Investment Bank (AIIB)
Could be a rival or/and a complement to ADB and the Washington institutions
A countermeasure to the western-dominated development banks(World
Bank, IMF, ADB)
A complementary source for infrastructural funds in Asia
Expected to contribute to the regional economic integration in the Asia-
Pacific
Need to adopt international best practices
AIIB would need to implement practices of governance, environmental and
social safeguards, procurement,etc.
work with or add values to multilateral development institutions (ADB and WB)
Address concerns for China’s infrastructure lending history and practice
in Africa
China’s growing economic stature should be reflected in the governance structure
of global institutions - Reforms of global institutions are needed
Forms of Regional Economic Competition
17. 17
Internationalization of the RMB
By the end of 2014, RMB ranked 5th as the most traded currency
According to SWIFT's report, at 2.2% of SWIFT payment behind JPY (2.7%), GBP
(7.9%), EUR (28.3%) and USD (44.6%)
The average monthly RMB trade settlement up from CN¥320 billion in 2013 to
¥480bn in 2014
The Renminbi Qualified Foreign Institutional Investor (RQFII) quotas extended to five
other countries
UK (15 Oct 2013), Singapore(22 Oct 2013), France(20 June 2014), Korea (18 July2014),
Germany (18 July2014), and Canada(8 Nov 2014), each with the quotasof ¥80bnexcept
for Canadaand Singapore(¥50bn)
Previously, onlyHong Kongwas allowed,with a ¥270bnquota
The path of RMB internationalizationcan be divided into three phases
Trade finance
Investment
Reserve currency (in the longer term)
Other Forms of Regional Economic Competition
18. 18
Internationalization of the RMB
The road to the RMB Internationalization is far from complete
Size of the home economy relative to others
Economic stability in the form of low inflation, small
budget deficits and stable growth
Strong official and institutional support
Deep, open and well-regulated capital markets (in a
deliberately slow progress)
opening up of China’s onshore capital market
greater access for foreign investors to local capital markets
deeper global RMB liquidity and wider cross-border flow
channels
Other Forms of Regional Economic Competition
20. RMB Internationalization: Prospects
Micro level: Increase Liquidity Supply and Streamline Reflow process
Cut red tapes on approval process for cross-border use
of RMB;
Expand RMB payment in tourism, shopping and study
in foreign countries;
Explore measures to enable overseas public listed
company to pay interests and dividend in RMB;
Encourage policy banks and other financial institutions
to expand RMB external financing and facilitate overseas
development aid in RMB;
20
21. RMB Internationalization: Prospects
Micro level: Increase Liquidity Supply and Streamline Reflow
Promote RMB bond issue in domestic and
international market;
Encourage use of RMB as a denominated
currency in global outsourcing and commodity
transactions;
Encourage use of swap lines and expand
financing channels for clearing banks and RMB
participating banks in domestic market;
21
22. RMB Internationalization: Prospects
Macro level: Reform, Growth, Infrastructure and Soft Power
Expand economic and financial opening up and
reform : capital account, interest rate and exchange rate;
Sustain strong and stable economic growth;
Upgrade market infrastructure for cross border use
of RMB: China International Payment System (CIPS),
bond market development, regulation clean-up;
22
23. 23
RMB Internationalization: Prospects
Macro level: Reform, Growth, Infrastructure and Soft Power
Improve institutions and international
coordination.
“One Belt and One Road” strategy .
IMF SDR review later this year
History may provide a guidance
31. Kra Canal ??– Singapore’s maritime trade
dominance along Straits of Malacca
challenged ?
32. Iranian Ports – The Post Sanction Era,
Mehdi Rastegary, Sina Ports Iran, Sep 15
• 6 Ports to watch -
Chabahar, Shahid Rajaee
Port, Bushehr Port,
Assaluyeh Port, Imam
Khomeini Port, and
Khoramshahr.
• Chabahar is the port that
India is eyeing to develop
to compete with Gawdar,
Pakistan.
• Oil tanker fleet capacity of
15 mil ton/yr
• Strait of Hormuz -
bunkering, economic
supply of oil products, and
availability of infrastructure
and equipment,
33. Iran welcomes India USD 85 mil private investment for
Chabahar port project, Aug 15
India-Iran Strategic Chabahar Port to
be Operational by December 2016,
Will Give Access to Afghanistan,
Central Asia
50. China Peak Oil ? - Oil Production Trajectories of
Daqing and Prudhoe Bay, ‘000 bpd
51. China Peak Oil ? - Slowing Changqing Output
Suggests Tight Oil Insufficient to Offset Core Fields’
Decline
52. China Peak Oil ? - Offshore Oil Production Will
Not Turn the Tide of Oil Production Declines
53. Key implications
• The game, players and rules have changed.
• Oil & Gas security from Lisbon to Shanghai
requires new approaches or serious adaptation of
the old ones
• A potential security and economic crisis in the
making – esp the downturn started from China &
the South China seas dispute
• Volatility not only in prices but also in social
security
• Develop win-win propositions for all in order to
reduce geopolitical tensions
• Tank storage investors still have many other new
attractive destinations