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Tuesday, 30 May 17
MARKET ANALYSIS - GEORGE LAZARIDIS
 Despite the fair performance that has been noted in the Chinese economy over the past 5 months, we have started to see an increase in the skepticism and fear as to the upcoming prospects of the world’s second largest economy. In part the majority of this emerging sentiment has to do with some of the most recent figures coming out of China with regards to its imports, urging many to take further weight onto the idea that the recent tightening of financing and clearing out of excesses by the government has likely starting to lead to a further slowdown that has only just started to show face, said George Lazaridis of Allied Shipping in his latest weekly report.
Furthermore, it seems as though many have rushed to embrace this as a scenario, feeding with their preconceptions that the excessive debt problem in China and the bubble effects they have been mentioning several times over the past years in terms of real estate and financial markets have started to play their part.
Allied Shipping’s analyst further noted that often with these latter preconceptions is the connection with what we have seen historically in other emerging markets in the past and the most usual comparison is that of the course we witnessed back in the 1980’s in Japan’s economy. With the number of similarities now increasing even further as to how Japan’s economy failed before the bubble collapsed and the figures coming out of China today. China just like Japan back then, is now the world’s second-largest economy, supplying just over 20% of US imports (just as Japan did back in the 80’s) and providing 40 percent of the global economy’s annual growth. More importantly, many of the similarities relate to the debt held, with China’s total debt now holding at 2505 of GDP and non-financial corporate debt-to-GDP ratio reaching a total of 155%. To many the similarities are too great, confirming their affirmation that China’s economic behavior as a bubble-like market is unlikely to end well.
The analyst further said in his report, there are however some very notable differences. Chinese investment outside of China has not been limited to snapping up of western real estate and large corporations. Being an economy largely directed by its government with firm planning, there has been a great deal of investment that has taken place which is more in line with the policies undertaken by the United States in the start of the 20th Century, with a focus on securing raw resources as well as helping to beef up satellite emerging markets that could prove to be future consumers of its large-scale exports. At the same time, a large percentage of its economy is still in the grips of the government, as such allowing for more gradual smoothing and corrections to be made rather than a full out bubble burst. Obviously, this hasn’t always worked perfectly as the collapse of its stock market bubble in 2015 testifies. It seems as though there is a whole lot of investment being undertaken that has yet to bear fruits from which a more stable picture of the Chinese economy can emerge, yet as you look at the course of its market’s focus over the past 10 years, it has shown an ability to maneuver its targets and focus and find sources of growth beyond just the major developed economies such as the U.S. and Europe.
For the time being there has been a slowdown compared to the record production and import levels that were being noted earlier in the year, yet its engine of growth seems to still have plenty more momentum to go on at least for the near-term. Even if these fears are founded, it does not seem to be something of major concern, for now, he concluded.
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Friday, 28 April 17
DELTA DUNIA RECORDED $24 MILLION NET PROFIT FOR FIRST QUARTER OF 2017; UP 700% Y/Y
COALspot.com: PT Delta Dunia Makmur Tbk. has announced its financial results for the first quarter of 2017 yesterday. According to the ...
Thursday, 27 April 17
PACIFIC IS SOFTENING WITH MORE TONNAGE OPENING AND LESS COAL ORDERS AROUND - FEARNLEYS
Supramax
Relatively slow week, with both basins showing signs of cooling down. Although grain cargoes out ECSA and ECCA on Ultras still delivered ...
Wednesday, 26 April 17
IRON ORE PRICES HAVE BEEN ON A ROLLERCOASTER RIDE OVER THE LAST MONTH - CHRISTOPHER WHITTY
Iron ore prices have been on a rollercoaster ride over the last month. Prices started the year on a very positive note, surging up to their highest ...
Tuesday, 25 April 17
FIONA POUNDS: VALID TENDER OF NOTICE OF READINESS
KNOWLEDGE TO ELEVATE
In the recent English High Court case of MV Arundel Castle1, the Judge ruled that a vessel, that could not immediately pr ...
Tuesday, 25 April 17
SHIPPING MARKET - ALLIED
Over the weekend we witnessed a second win over the rising populism that has become present in global politics since last summer, Allied shipping s ...
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- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Meenaskhi Energy Private Limited - India
- Madhucon Powers Ltd - India
- Electricity Authority, New Zealand
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Mercuria Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Parliament of New Zealand
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Lanco Infratech Ltd - India
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Globalindo Alam Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Ministry of Transport, Egypt
- Australian Coal Association
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Eastern Energy - Thailand
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