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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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Friday, 31 July 15
CAPE'S PAPER MARKET REMAINS FIRM - INTERMODAL
COALspot.com: The positive sentiment that the Dry Bulk market has been enjoying as of the previous month, was carried through last week as well, bu ...
Friday, 31 July 15
COAL PRODUCTION IN THE U.S. UP 3.6% FOR THE WEEK ENDING JULY 25
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Friday, 31 July 15
CHINA'S NEW OIL IMPORT RULES HAVE MINIMAL IMPACT ON STATUS QUO - FITCH
Fitch Ratings says that China's looser criteria for crude oil import rights are a positive but modest step towards encouraging private-sector p ...
Wednesday, 29 July 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED HIGHER THAN Q3'15
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and gains week over week, this past week.
The Q3 swap was decl ...
Wednesday, 29 July 15
Q4' 15 FOB RICHARDS BAY COAL SWAPS DECLINE 4.41% TO $56.52 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
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- Iligan Light & Power Inc, Philippines
- Central Java Power - Indonesia
- Renaissance Capital - South Africa
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Larsen & Toubro Limited - India
- Deloitte Consulting - India
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Wood Mackenzie - Singapore
- GMR Energy Limited - India
- Barasentosa Lestari - Indonesia
- Carbofer General Trading SA - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- Indonesian Coal Mining Association
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- White Energy Company Limited
- Xindia Steels Limited - India
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Parliament of New Zealand
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Global Coal Blending Company Limited - Australia
- Jaiprakash Power Ventures ltd
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Indian Energy Exchange, India
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Australian Coal Association
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- ASAPP Information Group - India
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Kartika Selabumi Mining - Indonesia
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