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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, 03 July 15
SHIPPING CONFIDENCE EQUALS SEVEN-YEAR LOW - MOORE STEPHENS
Overall confidence levels in the shipping industry fell during the three months to May 2015 to a level equal to the lowest rating recorded in the p ...
Thursday, 02 July 15
TECHNOLOGY AND INNOVATION IN MINING 2015 - IXG
Information Exchange Group’s Technology and Innovation in Mining 2015- International Summit on Mining
Press Release: The inaugural editi ...
Thursday, 02 July 15
THE PERFORMANCE OF THE CAPESIZE SEGMENT PUSHED DRY BULK MARKET TO UPWARD LAST WEEK
COALspot.com: The Dry Bulk market continued its upward movement last week, with the BDI closing off on Friday (26 June) in excess of 800 points, wh ...
Wednesday, 01 July 15
Q4'15 AND Q1'16 FOB RICHARDS BAY COAL SWAPS ROSE W-O-W AND M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and down week over week.
The Q3 swap was up US$ ...
Wednesday, 01 July 15
BEIJING HAS OFFICIALLY EXTENDED BY TWO YEARS ITS SUBSIDY PROGRAM TO SUPPORT LOCAL SHIPPING COMPANIES IN SCRAPPING THEIR OLD TONNAGE - INTERMODAL
Last week, Beijing has officially extended by two years its subsidy program to support local shipping companies in scrapping their old tonnage in w ...
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- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Africa Commodities Group - South Africa
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- White Energy Company Limited
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Bhatia International Limited - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Port Waratah Coal Services - Australia
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Maheswari Brothers Coal Limited - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Ambuja Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Cement Manufacturers Association - India
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Grasim Industreis Ltd - India
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- The University of Queensland
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- The State Trading Corporation of India Ltd
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- GAC Shipping (India) Pvt Ltd
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Indika Energy - Indonesia
- Posco Energy - South Korea
- Vedanta Resources Plc - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
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