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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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Wednesday, 07 October 15
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS DOWN 21 PER CENT COMPARED WITH THE SAME PERIOD IN 2014 - EIA
Coal Supply
Lower U.S.’s domestic coal consumption and reduced exports contribute to a forecast decline of 89 million short tons (M ...
Wednesday, 07 October 15
SHIPPING MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2015 and more specifically during the summer season has been rather remarkable. 421 v ...
Wednesday, 07 October 15
INDONESIA COAL SWAPS HAVE CONTINUED TO DECLINE, FALLING ALMOST 7% M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 2.23 (-5.51%) per t ...
Tuesday, 06 October 15
THE IMPACT OF LOW OIL PRICE ON THE SHIPPING INDUSTRY - LITERATED
The fall in global oil prices over the last one year has been beneficial to the shipping industry. The demand for oil tankers has picked up and the ...
Tuesday, 06 October 15
FOB RICHARDS BAY COAL SWAPS PLUNGE MORE THAN 6 PER CENT M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
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- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Parliament of New Zealand
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Vijayanagar Sugar Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- PTC India Limited - India
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Indika Energy - Indonesia
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Jorong Barutama Greston.PT - Indonesia
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Commonwealth Bank - Australia
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- ASAPP Information Group - India
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PowerSource Philippines DevCo
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