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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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Thursday, 03 November 16
CAPESIZE: BRAZIL/CHINA RATES MOVED TO THE $11 PMT LEVEL; WEST AUSTRALIA/CHINA ROUTE MOVED UP CLOSE TO MID $5 PMT LEVEL - FEARNLEYS
Supramax
In the Atlantic we see a bit more activity than in the eastern hemisphere, says Fearnleys in its latest weekly report. Fhauls via Black ...
Wednesday, 02 November 16
SHIPPING MARKET INSIGHT
A week before the U.S. presidential election, everyone is eager to see the socio-political effects that the result of these elections will have. As ...
Wednesday, 02 November 16
SHIP OPERATING COSTS ARE EXPECTED TO RISE IN BOTH 2016 AND 2017 - MOORE STEPHENS
Vessel operating costs are expected to rise in both 2016 and 2017. Repairs and maintenance and spares are the cost categories which are likely to i ...
Tuesday, 01 November 16
PANAMAX : A FAIR AMOUNT OF SIDEWAYS SHIPPING IN RATES - ALLIED SHIPPING
Capesize
A very sluggish start to the week, with rates dropping considerably as all optimism seems to have evaporated over the weekend. According ...
Tuesday, 01 November 16
IMPROVEMENT ON THE DEMAND SIDE ONLY BUT THE SUPPLY SIDE IS WORSE OFF - BIMCO
Back in May, BIMCO disclosed a projected “road to recovery” for the dry bulk shipping industry. The main message back then on what the ...
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- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Coal and Oil Company - UAE
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Gujarat Sidhee Cement - India
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- CIMB Investment Bank - Malaysia
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Binh Thuan Hamico - Vietnam
- Standard Chartered Bank - UAE
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Aditya Birla Group - India
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Electricity Authority, New Zealand
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Bukit Makmur.PT - Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- SMG Consultants - Indonesia
- Orica Mining Services - Indonesia
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- The Treasury - Australian Government
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
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