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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, 26 June 15
COAL PRODUCTION IN THE U.S ROSE 6.0% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.3 million short ...
Thursday, 25 June 15
THE PORT OF NEWCASTLE SHIPPED 13.31% MORE COAL IN MAY 2015 COMPARED TO APRIL 2015
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.18 billio ...
Thursday, 25 June 15
CAPESIZE: PERIOD INTEREST REMAINED STRONG FOR A SECOND WEEK - INTERMODAL
COALspot.com: Following those depressive last six months, the BDI closed off on last Friday noting a substantial weekly increase, which pushed the ...
Wednesday, 24 June 15
PANAMAXES: THE OUTLOOK REMAINS NEGATIVE AS DEMAND FOR COAL IS DIMINISHING - YANNIS OLZIERSKY
As we get closer to the end of June, we can safely say that the 1st half of the year is leaving the dry bulk market with a bitter taste that we all ...
Tuesday, 23 June 15
Q3 FOB INDONESIA COAL SWAP FALL $1.12 IN ONE MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and week over week, this past week.
The Q3 swap was declined $ ...
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- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Uttam Galva Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Energy Link Ltd, New Zealand
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Mercator Lines Limited - India
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Cement Manufacturers Association - India
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Minerals Council of Australia
- Economic Council, Georgia
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- White Energy Company Limited
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Australian Coal Association
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Mjunction Services Limited - India
- Indogreen Group - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Planning Commission, India
- Bhushan Steel Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
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