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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, 19 August 15
FOB INDONESIA COAL SWAPS CONTINUE FLAT TREND LINE THIS WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and flat week over week, this past week.
The 4Q swap was decli ...
Tuesday, 18 August 15
DRY BULK: MARKETS HAVE CONTINUED TO BE SEVERELY CHALLENGED - CLARKSONS
The dry bulk markets have continued to be severely challenged with freight rates falling during the period to below operating expense. The Baltic D ...
Tuesday, 18 August 15
1Q'16 FOB RICHARDS BAY COAL SWAP FALLS BELOW $54 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Tuesday, 18 August 15
2Q' 16 FOB NEWCASTLE COAL SWAP CLOSED AT $43 PER MT W/E 14 AUGUST
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.08 per MT (-2.46%) month over month to US$ 42.82 per mt. The swap ...
Monday, 17 August 15
TROUBLED DRY BULK MARKET FACES TURMOIL AS CHINESE COAL IMPORTS REMAIN WEAK - BIMCO
The demand for coal in China continues to diminish. So much in fact that India is expected to succeed China as the world’s largest imp ...
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- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Latin American Coal - Colombia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Energy Development Corp, Philippines
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- The University of Queensland
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Makarim & Taira - Indonesia
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Kartika Selabumi Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Australian Coal Association
- Africa Commodities Group - South Africa
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Kideco Jaya Agung - Indonesia
- Ministry of Mines - Canada
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