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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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Monday, 06 July 15
KOREA MIDLAND POWER COMPANY LIMITED ISSUED A TENDER FOR 250K MT BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 250K Metric Tons (MT) of 5300 kcal/kg NAR coal ...
Monday, 06 July 15
COAL TRADING & RISK MANAGEMENT TRAINING COURSE
Are you ready to invest in yourself and take your trading and risk management strategy to the next level? The Coal Trading & Risk Management Tr ...
Monday, 06 July 15
CFR SOUTH CHINA COAL SWAP; DECLINED D-O-D,W-O-W AND M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.53 (1.01%) per MT month over month.
A commodity swap ...
Sunday, 05 July 15
THE BALTIC DRY INDEX WAS DOWN 18%; PANAMAX UP 9%
COALspot.com: The freight market was soft during this week. However indices closed slightly firmer end of the week on 3rd July.
The BDI was do ...
Friday, 03 July 15
U.S DELIVERS WEAK FIRST HALF COAL PRODUCTION; 8.8% LOWER Y-O-Y
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.5 million short ...
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- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Energy Development Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Sical Logistics Limited - India
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Posco Energy - South Korea
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Petrochimia International Co. Ltd.- Taiwan
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Power Finance Corporation Ltd., India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Singapore Mercantile Exchange
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Indogreen Group - Indonesia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- San Jose City I Power Corp, Philippines
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- MS Steel International - UAE
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Sindya Power Generating Company Private Ltd
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- Indian Oil Corporation Limited
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