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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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Friday, 04 September 15
GOVERNORS WILL HAVE THE POWER TO REVOKE MINERS' PERMITS: ENERGY MINISTRY - JG
Starting Oct. 1, Indonesia's governors will lawfully become "executors" in revoking the licenses of miners that fail to secure a &quo ...
Thursday, 03 September 15
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO REVISE HBA METHODOLOGY
COALspot.com: Ministry of Energy and Mineral Resources (ESDM) in process to revise Indonesian Coal Price Reference (HBA) and expected to complete b ...
Thursday, 03 September 15
THE CHINESE STOCK MARKET AND THE CHINESE ECONOMY CONTINUE TO SUBSTANTIALLY AFFECT TRADING - INTERMODAL
The last week of the summer season saw the BDI dipping further on the back of another significant drop in rates for Capes, which brought the market ...
Wednesday, 02 September 15
PORT OF NEWCASTLE SHIPPED 13.46 MMT OF COAL IN JULY; UP 0.66 PER CENT M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.224 billi ...
Wednesday, 02 September 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
In the beginning of the summer period SnP activity was firm with numerous buyers, coming mainly from Greece and the Far East, inspecting ships and ...
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- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Krishnapatnam Port Company Ltd. - India
- Larsen & Toubro Limited - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Edison Trading Spa - Italy
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Marubeni Corporation - India
- PNOC Exploration Corporation - Philippines
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- Indonesian Coal Mining Association
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Bhoruka Overseas - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- SMG Consultants - Indonesia
- Global Green Power PLC Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Australian Coal Association
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dalmia Cement Bharat India
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