India: Oil growth prospects changing tanker patterns

06/21/2004
Prospects for increased crude oil demand in India bode well for ship owners looking for charters in the region, according to an analysis released last month by New York-based shipping consultant Poten & Partners Inc. "While China is taking center stage in the media for economic growth, India is moving to displace its diva counterpart," said the analysis. Growth; a bumpIn fourth-quarter 2003, India's gross domestic product rose by more than 10%; GDP growth of 7.2% is expected for 2004, it said.In April, the world's second most populous nation reduced its $15 billion trade deficit (2003) by $3.2 billion. The country exports light manufacturing products such as textiles and some agri...
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