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Thursday, 30 July 15
EFFECTS OF THE CHINESE STOCK MARKET CRISIS - INTERMODAL
 All evidence is currently signaling that the Chinese stock market will be the newest hurdle for the global economy. With the world's second largest economy's stock market facing massive problems over the past six weeks, the Chinese government has taken various measures (including pouring almost half a trillion USD via state-owned financing entities and suspending IPOs) in an effort to stabilize the current situation.
However Monday's drop of ~8.5%, the largest drop recorded since February 2007, with commodity companies and consumer firms having felt the brunt of the decline, shows that these measures have been lackluster at best or that the problem is that much larger than expected; both equally problematic conclusions. Various researchers are now predicting further substantial drops in the coming weeks. This has fueled worries concerning the growth prospects of the Chinese economy which, given its influence on shipping via imports/exports, is sure to be felt by shipowners globally.
The June 12th peak signaled the start of a decline which has no visible bottom. The rout has to date wiped out almost four trillion USD in market value and while corrective measures did result in a +12% rally, the stock market has slumped once again, making this positive correction rather short. While the Chinese government has committed to stabilizing the situation, investor confidence is currently being shattered, as correctional actions have been largely ineffective, which is exacerbating the problem. With no certain idea of when, or indeed how, the situation might be stabilized, this is certain to have an adverse effect on the wavering Chinese economy as a whole.
China's economy has been slowing down for quite a while. As a result, growth prospects are being revised to lower levels, which should also have a major effect on imports / exports specifically in regards to crude oil/refined petroleum, iron ore, steel and soybeans. The various shipping routes to China are sure to feel the pressure on their respective freight rates. This could very well push various shipowners to choose different trading routes at less-than-desirable levels in order to compensate.
With the dry bulk market currently enjoying some long awaited improvements on rates, this upset could yet again drive down dry market freight rates (especially for capes which have shown s substantial rebound over the past few weeks).
One of the very ,very few certainties regarding the Chinese stock market situation is that the current volatility of the market is sure to persist until we see some stabilization on macro data and/or corporate earnings. The coming months will almost certainly bring wild swings in stock values and, until confidence is restored and stability is reached, the effects of the stock market crash on the Chinese economy will not slow down.
It remains to be seen whether Chinese policy makers will be able to minimize the damage or if the issue spirals out of their control. Whichever it is, it seems that the ride ahead remains bumpy.
By Linos-Alexandros Kogevinas
Marketing—Harbour Towage & Port Agency
Cotzias Intermodal Shipping Inc
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Thursday, 15 October 15
INDONESIA COAL PRICE REFERENCE FALLS FOR SEVEN STRAIGHT MONTH IN OCTOBER
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price this month.
The ...
Thursday, 15 October 15
Q1' 16 FOB RICHARDS BAY COAL SWAP ADVANCED 2 PER CENT WEEK OVER WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gain week over week and declined month over month.
The Q4 swap was dow ...
Tuesday, 13 October 15
DRY BULK SHIPPING FLEET NET EXPANSION WAS 1.3% DURING THIRD QUARTER, BUT ORDERBOOK REDUCED TO 17% OF THE TRADING FLEET
If the dry bulk market is to rebound on a sustainable level, it needs to limit the tonnage expansion, at least until demand picks up again, as Chin ...
Tuesday, 13 October 15
FOB NEWCASTLE COAL SWAP DECLINED 2 PER CENT MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $0.46 per ton (1.08%) month over month to US$ 42.17 per ton. The ...
Monday, 12 October 15
CFR SOUTH CHINA COAL SWAPS GAIN W-W; SLIGHTLY DOWN M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US cents 3 (0.06 %) per ton month over month.
A commodity ...
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- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Essar Steel Hazira Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Electricity Authority, New Zealand
- Standard Chartered Bank - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Karbindo Abesyapradhi - Indoneisa
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- AsiaOL BioFuels Corp., Philippines
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Trasteel International SA, Italy
- Siam City Cement PLC, Thailand
- The University of Queensland
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- SMG Consultants - Indonesia
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Eastern Coal Council - USA
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Posco Energy - South Korea
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Bhushan Steel Limited - India
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