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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, 19 June 15
U.S. WEEKLY COAL PRODUCTION UP SLIGHTLY COMPARED TO LAST WEEK; CONTINUES TO BE DOWN FROM LAST YEAR
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.4 million short ...
Friday, 19 June 15
INDONESIA'S COAL-TRAFFICKING PROBLEM REQUIRES IMPARTIAL INQUIRY - JAKARTA GLOBE
Indonesia, the leading supplier to the seaborne thermal coal market, produces 420 million tons of coal per year, according to its official tally.
...
Thursday, 18 June 15
DRY BULK SHIPPING: LOWEST FLEET GROWTH IN 10 YEARS MAY NOT PROVE ENOUGH AS DEMAND IS NOT KEEPING PACE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The demand side of things in the dry bulk market seems unable to keep pace with even the slightest fleet growth, a sign of the demise that the indu ...
Thursday, 18 June 15
THE FAR EAST HANDYSIZE, HANDYMAX, SUPRAMAX MARKET REMAINED STEADY LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market closed off on Friday (last week) noting small gains on the back of stronger performance in the Panamax segment, w ...
Thursday, 18 June 15
MERCATOR'S KAMSARMAX FIXED WITH CLEARLAKE
COALspot.com: Mercator Lines (Singapore) Limited, a leading Indian-owned international dry bulk shipping company focused on markets such as India, ...
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- Coalindo Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Rashtriya Ispat Nigam Limited - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- Ministry of Transport, Egypt
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- The Treasury - Australian Government
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Orica Australia Pty. Ltd.
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- OPG Power Generation Pvt Ltd - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- PTC India Limited - India
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Antam Resourcindo - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Eastern Energy - Thailand
- Independent Power Producers Association of India
- Attock Cement Pakistan Limited
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- SMG Consultants - Indonesia
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Aditya Birla Group - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- Miang Besar Coal Terminal - Indonesia
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