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