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Friday, 24 April 15
IS INDIA THE 'NEW CHINA' WHEN IT COMES TO THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
 The dry bulk market has been feeling the “heat” of China’s slowdown and together with the industry’s own failings, with oversupply plaguing the sector, has witnessed earnings drop to histocical lows. As such, with China’s nnual economic growth rate slowing down to a six-year low of 7pct in the first quarter, while at the same time many believe that even this is not giving a true picture of the slowdown, pressure and concerns continue to mount as to the prospects of the market this year.
However, according to Mr. George Lazaridis, Head of Market Research & Asset Valuations with shipbroker Allied Shipbroking, “yet this seems to be only half the picture investors are looking at. At the same time as the Chinese economy starts to get to grips with this new reality, Narendra Modi, India’s Prime Minister has been making ground breaking progress to push India’s economy to the top podium position in terms of annual GDP growth. During the past week he has been meeting with Australia’s Prime Minister, Tony Abbott, to strike a compelling deal which would promote further trade in dry bulk commodities such as iron ore and coal. This deal comes at a point were India’s Economy is already expected to expand by more than China’s for the first time since 1999″.
According to Lazaridis, despite the above, “many in the industry remain unconvinced as to the extent that India could dethrone the current Champion amongst the BRIICS and take leading role in reinvigorating the global economy. The reality is, that in order to accomplish this India must do much more than just momentarily surpass China in terms of economic growth. India’s govern-ment is still plagued by corruption and bad organization, while a lack of central govern-ment planning in the style of China, makes it all the more difficult to properly direct development efforts and achieve the high goals needed to direct a complete restructur-ing and long term growth trajectory. Yet even without these it is proving to push for a significant role in trade which is likely to expand over the next couple of years and while it might not surpass the Chinese economy in this decade (or the next) it is starting to shape up and become a serious contender that could inevitably lead to yet another fast paced global commodities rally in order to feed its growth needs”, he noted.
According to Allied’s analyst, “at the same time much is to be said about the recent critics regarding China’s figures as well. It may well be certain that the current figures point to troubles ahead for the re-mainder of 2015, but looking deeper into what makes up these figures, you can note that economic growth has started to become more reliant on internal consumer spend-ing rather than just mere investment. This means that its economy is maturing, becom-ing more self-reliant rather than only export oriented and making it in turn more sus-tainable in the long-run”.
He went on to note that “at the same time the much anticipated switch from a cheap “copy-cat” producer over to a research and innovation producer means that it is start-ing to take the next step in its development cycle similar to what Japan and S. Korea had done back in the 80’s and 90’s. Nevertheless, the Chinese government does not seem to be willing to sit back, relax and rely on only this to keep its internal engine go-ing. Yesterday, China’s central bank announced that it has lowered the reserve-requirement ratio of banks by a further 1 percentage point, which according to esti-mates should free up around 194 billion U.S. dollars to boost lending further”.
Concluding his analysis, Lazaridis pointed out that “all these are positive signs, but they seem to be a more long-term effect with likely out-comes to be more evident to the shipping markets within 2016 rather than during the course of this year. Even so, what must be taken out of all of this is that the troubled pace isn’t looking likely to last too long”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Friday, 29 May 15
COAL PRODUCTION IN THE U.S. ALMOST FLAT THIS PAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.1 million short ...
Friday, 29 May 15
SOUTH KOREAN STATE-OWNED UTILITY KOREA MIDLAND POWER INVITES BIDS FOR 780K MT OF COAL FOR H2' 15
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 780K Metric Tons (MT) of HCV and LCV ...
Thursday, 28 May 15
TIMEBAR FOR DEMURRAGE CLAIMS - SKULD
KNOWLEDGE TO ELEVATE
English law has traditionally had a strict approach to contractually agreed time bars between commercial parties as well ...
Wednesday, 27 May 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Earlier in the year I looked at how the market was reacting to the prolonged fall of the price of oil. Back then it was still unclear if the fallin ...
Tuesday, 26 May 15
HOW HAS THE DROP IN OIL PRICES AFFECTED OTHER COMMODITIES? - CLYDE & CO
KNOWLEDGE TO ELEVATE
The effects of the dramatic drop in the price of both Ice March Brent, the international oil marker, and its US counterpa ...
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- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Mines - Canada
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- SMC Global Power, Philippines
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Semirara Mining and Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Samtan Co., Ltd - South Korea
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- GVK Power & Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Interocean Group of Companies - India
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- The University of Queensland
- Barasentosa Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Bangladesh Power Developement Board
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
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