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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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Wednesday, 10 May 17
MARKET INSIGHT - INTERMODAL
Up until a few weeks ago, demo deals were being concluded at just a fraction below $400/ldt. Last time we saw demo prices around that level was in ...
Tuesday, 09 May 17
DRY BULK TRADE IS STILL HEAVILY RELIANT ON CHINA - GEORGE LAZARIDIS
We have seen an overall cool down in the dry bulk and tanker markets over the final two weeks of April, sparking worries amongst ship-owners that t ...
Monday, 08 May 17
INDONESIAN COAL PRICE REFERENCE RISES FOR SECOND STRAIGHT MONTH IN MAY
COALspot.com: Indonesian government declared coal benchmark price rose in May, government data showed.
The benchmark price of Indonesian therm ...
Monday, 08 May 17
OCEAN BULK CARGO RATES FALL FURTHER THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, with all segments show a negative downward trend week over week.
The Balti ...
Monday, 08 May 17
US WEEKLY COAL OUTPUT ON THE DOWN - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.8 million short tons ...
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Showing 2051 to 2055 news of total 6871 |
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- PTC India Limited - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- VISA Power Limited - India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- Deloitte Consulting - India
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercuria Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Chamber of Mines of South Africa
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- White Energy Company Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
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