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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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Friday, 31 July 15
CAPE'S PAPER MARKET REMAINS FIRM - INTERMODAL
COALspot.com: The positive sentiment that the Dry Bulk market has been enjoying as of the previous month, was carried through last week as well, bu ...
Friday, 31 July 15
COAL PRODUCTION IN THE U.S. UP 3.6% FOR THE WEEK ENDING JULY 25
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Friday, 31 July 15
CHINA'S NEW OIL IMPORT RULES HAVE MINIMAL IMPACT ON STATUS QUO - FITCH
Fitch Ratings says that China's looser criteria for crude oil import rights are a positive but modest step towards encouraging private-sector p ...
Wednesday, 29 July 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED HIGHER THAN Q3'15
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and gains week over week, this past week.
The Q3 swap was decl ...
Wednesday, 29 July 15
Q4' 15 FOB RICHARDS BAY COAL SWAPS DECLINE 4.41% TO $56.52 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
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- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- Medco Energi Mining Internasional
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- GAC Shipping (India) Pvt Ltd
- PTC India Limited - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Trasteel International SA, Italy
- Anglo American - United Kingdom
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- MS Steel International - UAE
- The University of Queensland
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Pendopo Energi Batubara - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Australian Coal Association
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement - Thailand
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Planning Commission, India
- Cement Manufacturers Association - India
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
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