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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, 05 August 15
SHIPPING MARKET INSIGHT - KATERINA RESTIS
On July 14th, 2015 a historical consensus was reached in Vienna between Iran and the five permanent members of the U.N. Security Council, plus Germ ...
Wednesday, 05 August 15
COAL CONSUMPTION POSTED THE STRONGEST GROWTH AMONG THE FOSSIL ENERGY SOURCES IN 2014 - VDKI
Coal 2014: again the world's fastest-growing primary energy source and an indispensable asset for the success of the energy turnaround.
Ac ...
Wednesday, 05 August 15
FOB INDONESIA THERMAL COAL SWAPS FALL
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week, this past week.
The 4Q swap was declined $ ...
Wednesday, 05 August 15
DRY BULKER PRICES START TO FIRM UP AS MARKET SENTIMENT IMPROVES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Market pessimism in the dry bulk industry, a trend which had established itself over the course of the year, has started to fade away over the past ...
Tuesday, 04 August 15
FOB RICHARDS BAY COAL SWAPS CONTINUE TO FALL DUE TO SLIDING DEMAND
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$ ...
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- IEA Clean Coal Centre - UK
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- White Energy Company Limited
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- The University of Queensland
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Latin American Coal - Colombia
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Medco Energi Mining Internasional
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Xindia Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- ASAPP Information Group - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Agrawal Coal Company - India
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- GMR Energy Limited - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- PTC India Limited - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
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