Chinese Economics Thread

Jeff Head

Jeff Head

General
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Tainjin-Cargo-losses.jpg​

gCaptain said:
LONDON, Sept 15 (Reuters) – Explosions in the Chinese port of Tianjin last month would lead to cargo losses of at least $1.5 billion, and were having a “significant impact” on the marine insurance sector, a trade body said on Tuesday.

“We are expecting to see cargo losses of at least $1.5 billion, with some reports stating that the final figure could be as high as $6 billion,” Nick Derrick, chairman of the International Union of Marine Insurance’s cargo committee, said in a statement.

The incident should provide a “substantial wake-up call to all cargo insurers”, he added.

Reinsurance broker Guy Carpenter, a unit of Marsh & McLennan , said earlier this month that insurance losses for buildings, cargo, containers and property as a result of the explosions could total up to $3.3 billion.
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Blackstone

Blackstone

Brigadier
Don't be such a fanboi, there's no moral equivalency between the massive graft, corruption, and human tragedy in Tianjin and the accidental toxic spill by an incompetent Environmental Protection Agency in Colorado. The topic was Tianjin explosion and not the Keystone Cops Environmental Destruction Agency.

 
broadsword

broadsword

Brigadier
Blackstone said:
Don't be such a fanboi, there's no moral equivalency between the massive graft, corruption, and human tragedy in Tianjin and the accidental toxic spill by an incompetent Environmental Protection Agency in Colorado. The topic was Tianjin explosion and not the Keystone Cops Environmental Destruction Agency.

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Just saying accidents can happen anywhere in any circumstance. Fanboi or not. That is just a fact.
 
AssassinsMace

AssassinsMace

Lieutenant General

At least in China the people responsible for mishaps will most likely be executed. So who's more corrupt? The country that executes CEOs or the one where no one is indicted because they're rich. Deepwater Horizon was a result of not following regulations. Does that mean if it wasn't enforced it's because of corruption?
 
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Blackstone

Blackstone

Brigadier
Boeing management hearing alarm bells?

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A non-Chinese airline will replace its
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(NYSE: BA) jets
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, an ominous sign for a U.S. company that sees China as its largest single future market.

Thailand-based City Airways, a small-but-growing regional airline based in Bangkok, this week signed a deal for 10 Chinese-built C919s to replaced the two leased 737-400s it now operates.

The company also ordered 10 ARJ21 regional jets. Both are built by the Commercial Aircraft Corporation of China, or COMAC, a government-funded company that is
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.

The sale is of particular significance in the Puget Sound region because the Chinese designed the single-aisle C919 aircraft to directly compete with Boeing’s 737 series and
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A320 series. Boeing makes the 737s exclusively in Renton.

While the repeatedly delayed C919 won’t be as advanced aerodynamically or electronically as Boeing's or Airbus' planes, it will be powered by similar engines. And City Airways probably got a killer discount because the government-supported Chinese manufacturer intensely wants to enter the global market, so short-term profit is not a concern.

In addition, with Boeing and Airbus both working on eight-year backlogs, City may get its C919s sooner from COMAC than it could have from the two larger companies.

COMAC is in the final stages of building its first C919, which is set to fly early next year.

“This order, outside of China, indicates that COMAC will be aggressive internationally, and will focus on Southeast Asian markets as the company moves internationally,” wrote Addison Schonland, partner at AirInsight
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. “While Boeing and Airbus have not considered COMAC a major threat in the short-term, they recognize the long-term potential for aircraft production in China.”

COMAC claims 507 orders for the 156-passenger C919, 96 percent them from Chinese airlines.

Boeing has 4,269 unfilled orders for 737s, and Boeing Vice President of Marketing Randy Tinseth said Tuesday,
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, that a third of those are going to China.
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