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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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- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- PTC India Limited - India
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Romanian Commodities Exchange
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Posco Energy - South Korea
- MS Steel International - UAE
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Parliament of New Zealand
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Lanco Infratech Ltd - India
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Africa Commodities Group - South Africa
- The University of Queensland
- Borneo Indobara - Indonesia
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Sakthi Sugars Limited - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- CIMB Investment Bank - Malaysia
- Alfred C Toepfer International GmbH - Germany
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Central Java Power - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Antam Resourcindo - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
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