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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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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Monday, 12 October 15
DRY BULK SHIPPING: MARKETS ARE SLOWLY IMPROVING FROM A VERY LOW LEVEL AS THE DEMAND SIDE FALTERS - HELLENIC SHIPPING NEWS
The dry bulk market is in the midst of a shift in demand patterns, which coupled with a tonnage supply overhang, has been facing headwinds over the ...
Monday, 12 October 15
BDI WEIGHED DOWN BY CAPE
COALspot.com: The BDI (Baltic Dry Index) has come back down again this week. The BDI is a benchmark index used to assess the overall cost of moving ...
Sunday, 11 October 15
TANKER SHIPPING: MORE OPTIMISM IN SIGHT FOR TANKERS IN THE WINTER SEASON - BIMCO
Demand:
2015 has been the year of the tanker. The fundamental improvements with slow supply-side growth for some years coupled with low oil pri ...
Friday, 09 October 15
US WEEKLY COAL OUTPUT UP 1.2 PERCENT TO 17.7 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 08 October 15
CAPESIZE: MOST PEOPLE AGREE A SPIKE IN RATES WILL HAPPEN; WHEN, HOW LONG AND HOW SUBSTANTIAL? - FEARNLEYS
Cape
Depressives start of the fourth quarter, with c3 approaching USD 12 pmt and c5 presently in the mind 5's. According to Fearnleys ship br ...
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- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Kapuas Tunggal Persada - Indonesia
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Parliament of New Zealand
- Jaiprakash Power Ventures ltd
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Minerals Council of Australia
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Medco Energi Mining Internasional
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Energy Link Ltd, New Zealand
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Orica Mining Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
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