India: Oil growth prospects changing tanker patterns

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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