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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, 30 June 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED $ 43.45 PER MT
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and flat week over week, this past week.
The Q3 swap was decli ...
Monday, 29 June 15
CFR SOUTH CHINA COAL SWAPS UP SLIGHTLY MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 0.57 (1.11%) per MT month over month.
A commodity swap is a ...
Monday, 29 June 15
FOB NEWCASTLE COAL SWAP SLIGHTLY UP MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.49 per MT (1.08%) month over month to US$ 45.77 per mt. The swap was ...
Saturday, 27 June 15
THE FREIGHT MARKET WAS STEADY EARLIER IN THE WEEK; SOFTEN INTO WEEK'S END
COALspot.com: The freight market remain steady earlier in the week, but towards end of the week BDI and BCI shows some signs of softening.
The ...
Friday, 26 June 15
INDONESIA COAL PRODUCTION FALLS BETWEEN JAN-MAY : JG
The Ministry of Energy and Mineral Resources announced that coal production declined to 166 million tons between January and May, a 19 percent drop ...
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- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- White Energy Company Limited
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Malabar Cements Ltd - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- VISA Power Limited - India
- Minerals Council of Australia
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Bhoruka Overseas - Indonesia
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Straits Asia Resources Limited - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- Carbofer General Trading SA - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Marubeni Corporation - India
- McConnell Dowell - Australia
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- London Commodity Brokers - England
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Ministry of Mines - Canada
- Economic Council, Georgia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
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