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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, 24 April 15
CHINA IRON ORE MINE CLOSURES TO SLOW ON GOVERNMENT SUPPORT - FITCH
Fitch Ratings expects fewer Chinese iron ore mine closures in 2015 as the government takes steps to support the industry, which has been struggling ...
Friday, 24 April 15
GLOBAL STEEL PRODUCTION OUTSIDE OF CHINA CONTINUES TO FARE VERY POORLY - JEFFREY LANDSBERG
COALspot.com: Data released this week showed that global crude steel production totaled approximately 138.05 million tons in March.
Wha ...
Friday, 24 April 15
WEEKLY U.S. COAL PRODUCTION ESTIMATE FALLS 5.7% FROM LAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.0 million short ...
Wednesday, 22 April 15
PANAMAX : ATLANTIC HOLDING ON TO THE GAINS OF THE PREVIOUS WEEK; PACIFIC BUSINESS SLID QUIETLY
COALspot.com: The Dry Bulk market managed to close off the week on a positive note last Friday, while as opposed to what we have been used to, it w ...
Wednesday, 22 April 15
TANKER MARKET INSIGHT - STRATOS TINIAKOS
The current environment we experience as a result of low crude oil prices is characterized by the increased demand for petroleum products in OECD c ...
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- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Ministry of Mines - Canada
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Planning Commission, India
- Economic Council, Georgia
- Thai Mozambique Logistica
- Bhushan Steel Limited - India
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Bulk Trading Sa - Switzerland
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Australian Coal Association
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- International Coal Ventures Pvt Ltd - India
- White Energy Company Limited
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Simpson Spence & Young - Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Globalindo Alam Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- PTC India Limited - India
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Indian Energy Exchange, India
- The Treasury - Australian Government
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Videocon Industries ltd - India
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
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