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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, 26 August 15
2Q'16 FOB INDONESIA COAL SWAP FALLS NEARLY 4.76 PER CENT M-O-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap was declined $ 2.20 (-5.13%) p ...
Tuesday, 25 August 15
INDONESIA MINERS' NPLS TO RISE FURTHER, BANK RISKS BUILD - FITCH
The NPLs of Indonesian mine and mine services companies are likely to rise further in the short term, says Fitch Ratings, after reaching multi-year ...
Tuesday, 25 August 15
MINER'S EARNINGS DROP ON FALLING COAL PRICES; Q2'16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 52.23 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Monday, 24 August 15
FOB NEWCASTLE COAL SWAPS HIT FRESH LOW, DIPPING BELOW $42 A TON
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 2.20 per MT (-5.01%) month over month to US$ 41.70 per mt. The swap ...
Monday, 24 August 15
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 48.65 PMT
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.89 (3.74%) per MT month over month.
A commodity ...
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- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- Madhucon Powers Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- European Bulk Services B.V. - Netherlands
- Jaiprakash Power Ventures ltd
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- The University of Queensland
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Planning Commission, India
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- MS Steel International - UAE
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Bukit Makmur.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Asmin Koalindo Tuhup - Indonesia
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- Tamil Nadu electricity Board
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Borneo Indobara - Indonesia
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- Chettinad Cement Corporation Ltd - India
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Anglo American - United Kingdom
- Eastern Energy - Thailand
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
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