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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.
Information contained within the website of COALspot.com is intended for informational purposes only and is not intended as professional counsel and should not be used as such.
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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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- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Bhushan Steel Limited - India
- Gujarat Sidhee Cement - India
- Global Coal Blending Company Limited - Australia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- PTC India Limited - India
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- San Jose City I Power Corp, Philippines
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bangladesh Power Developement Board
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Bharathi Cement Corporation - India
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Australian Coal Association
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Salva Resources Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Miang Besar Coal Terminal - Indonesia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
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