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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, 12 August 15
FOB NEWCASTLE COAL SWAP FLAT WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 0.98 per MT (-2.20%) month over month to US$ 43.65 per mt. The swap ...
Tuesday, 11 August 15
GLOBAL PRODUCTION OF CRUDE STEEL REACHED A NEW ALL-TIME HIGH OF 1,661M TONNES IN 2014 - VDKI
COALpot.com: Global production of crude steel reached a new all-time high of 1,661m tonnes in 2014, said German Coal Importer Association, in its l ...
Tuesday, 11 August 15
2016 CFR S.CHINA COAL SWAPS CLOSED SLIGHTLY HIGHER THAN 4Q 2015 CLOSING PRICES; BUT NOT SIGNIFICANT
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US cents 10 (0.20%) per MT month over month.
A commodi ...
Monday, 10 August 15
SOUTH KOREAN UTILITY KOMIPO INVITES BITUMINOUS COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 560,000 Metric Tons (MT) of 4,600kcal/kg NAR c ...
Sunday, 09 August 15
THE PANAMAX MARKET HAS REMAINED WEAK THIS WEEK
COALspot.com: The freight market continued to be buoyant with cape index pushing the BDI.
The BDI was up 10.49% and closed at 1200 points on 7 ...
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- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- VISA Power Limited - India
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Thiess Contractors Indonesia
- Star Paper Mills Limited - India
- Australian Coal Association
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- ASAPP Information Group - India
- Posco Energy - South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Economic Council, Georgia
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Planning Commission, India
- Ministry of Transport, Egypt
- Parliament of New Zealand
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- London Commodity Brokers - England
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhoruka Overseas - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Bhatia International Limited - India
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Alfred C Toepfer International GmbH - Germany
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Central Java Power - Indonesia
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Indika Energy - Indonesia
- The University of Queensland
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- White Energy Company Limited
- McConnell Dowell - Australia
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
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