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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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Monday, 24 August 15
IS CHINA'S STEEL EXPORTS ENOUGH TO SUPPORT THE FREIGHT MARKET? - BIMCO
No, it’s not enough, you will need lower Chinese iron ore production too in order to keep growing imports of iron ore into China that will su ...
Sunday, 23 August 15
SHIPPING FREIGHT RATES FALL SHARPLY ON EXCESS SUPPLY AND LOW DEMAND
COALspot.com: The BDI continued to soften and was down 5.78 pct and falls back below 1000 points this week.
The cape Index lost 17.25 per cent ...
Friday, 21 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION VOLUME FALLS 8.7% Y-O-Y
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.3 million shor ...
Friday, 21 August 15
GLOBALCOAL TO LAUNCH ONLINE TRADING OF PHYSICAL MET COAL ON 13 OCTOBER
On 13 October 2015, globalCOAL will launch an online platform for the physical procurement and trade of high quality hard coking coal delivered FOB ...
Thursday, 20 August 15
COAL PRICES FALL TO 12-YEAR LOWS AS CHINA, INDIA JOIN DEMAND SLOWDOWN - REUTERS
Coal futures have fallen to 12-year lows, hit by soaring production and a slowdown in global buying, including from India and China which until rec ...
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- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- PTC India Limited - India
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Coal Association
- PowerSource Philippines DevCo
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Indian Oil Corporation Limited
- Larsen & Toubro Limited - India
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Karbindo Abesyapradhi - Indoneisa
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Ambuja Cements Ltd - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Interocean Group of Companies - India
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Indika Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Jaiprakash Power Ventures ltd
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Georgia Ports Authority, United States
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Bhatia International Limited - India
- Siam City Cement - Thailand
- Tata Chemicals Ltd - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
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