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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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Tuesday, 04 August 15
SHIPPING CYCLES - A CHESS GAME YOU DON'T WANT TO LOSE - CLARKSONS
Ingmar Bergman’s classic movie The Seventh Seal is about a knight who, during the Black Death, challenges Death to a chess match, in the hope ...
Monday, 03 August 15
NEWCASTLE COAL SWAPS DECLINE FURTHER THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 1.92 per MT (-4.22%) month over month to US$ 43.58 per mt. The swap ...
Monday, 03 August 15
CFR SOUTH CHINA COAL SWAPS SLIDE THIS WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.64 (3.14%) per MT month over month.
A commodity swap ...
Sunday, 02 August 15
CAPESIZE RATES PUSH BDI UPWARD
COALspot.com: The freight market was buoyant this week as BDI rose 4.14 pct to 1131 points. The cape index was also increased 16.50 pct 2209 points ...
Saturday, 01 August 15
DRY BULK MARKET KEEPS ITS MOMENTUM, AS OUTLOOK IMPROVES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Although conditions remain more than challenging, especially from an economic point of view (aka China’s stock worries), the dry bulk market ...
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- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Bhoruka Overseas - Indonesia
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Minerals Council of Australia
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Energy Link Ltd, New Zealand
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Riau Bara Harum - Indonesia
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Karaikal Port Pvt Ltd - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- The Treasury - Australian Government
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Thiess Contractors Indonesia
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- The University of Queensland
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Marubeni Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Parliament of New Zealand
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bulk Trading Sa - Switzerland
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
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