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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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Wednesday, 23 September 15
INDONESIA: NEW REGULATION APPLIES FINAL INCOME TAX TO MINERAL AND COAL SALES - FLORENCE GRACIA SANTOSO
To increase state revenue from the mining sector, the Government of Indonesia has imposed a new final income tax on any sale of mineral and coal, a ...
Tuesday, 22 September 15
1Q16 FOB INDONESIA COAL SWAP DECLINED 6.49 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap declined $ 2.29 (-5.42%) per t ...
Tuesday, 22 September 15
FOB RICHARDS BAY COAL SWAPS FALL CONTINUES
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
Monday, 21 September 15
Q4' 15 FOB NEWCASTLE COAL SWAP CLOSED HIGHER THAN Q2' 16 SWAP
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery increased $0.43 per ton (1.01%) month over month to US$ 42.95 per ton. The ...
Monday, 21 September 15
CFR SOUTH CHINA COAL SWAP GAINED WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 0.45 (0.90 %) per ton month over month.
A commodit ...
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- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bayan Resources Tbk. - Indonesia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parliament of New Zealand
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Oldendorff Carriers - Singapore
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Posco Energy - South Korea
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Petrochimia International Co. Ltd.- Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Eastern Energy - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Dalmia Cement Bharat India
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