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India, queen of dry bulk / FOCUS ON

THE PROSPECTS for the market over the next few months of 2017 continue to look rather uncertain, and it’s still too soon to determine the extent of possible losses in the dry bulk shipping sector.

THE PROSPECTS for the market over the next few months of 2017 continue to look rather uncertain, and it’s still too soon to determine the extent of possible losses in the dry bulk shipping sector.

On the other hand, if acquired wisdom previously held that the dry bulk sector was driven by China, in conjunction with other countries, today it would be more accurate to say that China and India, along with other countries, are the heavyweights of the sector. While all economic indicators seem to have shown improvement in 2017, the only clouds on the horizon are due to uncertainties about the direction of economic policy in those two Asian giants, with India gaining an ever increasing role in the raw materials sector.

For the maritime industry, that country plays such an important role not just because it’s the sixth largest economy in the world in terms of Gross Domestic Product (estimated at $2.4 trillion for 2017), and the third largest globally in terms of purchasing power (about $9.5 trillion, also a 2017 estimate), but mainly because, as a leading emerging country, it’s a powerhouse for the exporting and importing of raw materials.

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