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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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Friday, 28 August 15
DRY BULK SHIP OWNER OPTIMISTIC ABOUT FUTURE PROSPECTS OF THE MARKET: NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk ship owner Golden Ocean appeared optimistic on the long term prospects of the dry bulk market, mainly thanks to an expected resolution of ...
Friday, 28 August 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING AUGUST 22 ROSE FOR THE THIRD STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.5 million shor ...
Friday, 28 August 15
BANPU STRENGTHENS GROWTH PLAN
Coal Business: Asia-Pacific Synergies Increase Competitiveness for Premium Export Market.
Banpu Public Company Limited (BANPU) strengthens its ...
Thursday, 27 August 15
RATES FOR CAPES REMAINED ON A FREE FALL LAST WEEK - INTERMODAL
COALspot.com: Keeping everyone on their toes with the volatility seen in August, the Dry Bulk market undoubtedly remains a steady provider of chall ...
Wednesday, 26 August 15
MARKET INSIGHT - STRATOS TINIAKOS
It’s always interesting to comment on the market when big economies around the world are facing troubling times. Following the collapse of th ...
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- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Parliament of New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- PTC India Limited - India
- Coal and Oil Company - UAE
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- The Treasury - Australian Government
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- CIMB Investment Bank - Malaysia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Malabar Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Billiton Holdings Pty Ltd - Australia
- Heidelberg Cement - Germany
- Ministry of Mines - Canada
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- The University of Queensland
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
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