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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, 22 April 16
U.S WEEKLY DOMESTIC COAL OUTPUT UP 8.2 PER CENT - EIA
COALspot.com – U.S the world’s second largest coal producer has produced approximately totaled an estimated 11.1 million short tons (mm ...
Thursday, 21 April 16
PANAMAX: A VERY HEALTHY NORTH ATLANTIC FOR BOTH ROUNDS AND FRONTHAUL
Capesize
Correcting after last week's quadrupling.
This year's highest daily average of USD 8000 came on the back of substantial pro ...
Wednesday, 20 April 16
2017 IS EXPECTED TO BE A MUCH BETTER YEAR FOR THE SHIPPING INDUSTRY - INTERMODAL
Some months ago we noted that all projections anticipated 2016 to be a better year from a macroeconomic point of view when compared to 2015. As we ...
Tuesday, 19 April 16
STARS STILL SHINING? KEY IMPORTERS THROUGH THE TELESCOPE - CLARKSONS
As the pace of growth in Chinese seaborne imports has slowed, and prospects for a return to stronger rates of expansion appear to have diminished, ...
Monday, 18 April 16
INDONESIAN 5000 GAR COAL INDEX DECLINE 1.43 PERCENT WEEK OVER WEEK - CS (I) COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin fell 1.43 percent week over week to averaging $38.65 per ton on this past Friday, ac ...
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- Medco Energi Mining Internasional
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Aditya Birla Group - India
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- Riau Bara Harum - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- VISA Power Limited - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Economic Council, Georgia
- Vedanta Resources Plc - India
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- The Treasury - Australian Government
- Leighton Contractors Pty Ltd - Australia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Holcim Trading Pte Ltd - Singapore
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Global Green Power PLC Corporation, Philippines
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
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