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