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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, 14 August 15
CONDITIONS AND COMPLEXITIES IN A TRIPARTITE AGREEMENT: BE SPECIFIC! - INCE & CO
KNOWLEDGE TO ELEVATE
A tripartite agreement reached between the Owners, the Shippers and the Receivers provided that demurrage be paid to the ...
Thursday, 13 August 15
THE RATES FOR CAPES KEPT RALLYING LAST WEEK - INTERMODAL
COALspot.com: Strong Capesize performance kept supporting the Dry Bulk market last week, which noted another positive weekly closing, while rates f ...
Thursday, 13 August 15
FOB RICHARDS BAY COAL SWAPS CONTINUE FALLING
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$ ...
Wednesday, 12 August 15
DRY BULK MARKET: WITHOUT A DOUBT REACHED HEALTHIER LEVEL
A few weeks before the end of the summer season, the BDI is hovering around 1,200 points, providing some much needed optimism to all Dry Bulk marke ...
Wednesday, 12 August 15
REGULATION CURBS POWER OF LOCAL AUTHORITIES IN MINING SECTOR IN INDONESIA - FLORENCE G. SANTOSO
The Indonesian Government appears to be getting serious about stripping Regents of the authority to issue mining licenses. The Government took the ...
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- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Planning Commission, India
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Renaissance Capital - South Africa
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Videocon Industries ltd - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Interocean Group of Companies - India
- ASAPP Information Group - India
- London Commodity Brokers - England
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Savvy Resources Ltd - HongKong
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Anglo American - United Kingdom
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Marubeni Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Australian Coal Association
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
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