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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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- Savvy Resources Ltd - HongKong
- Indian Oil Corporation Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Wilmar Investment Holdings
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- The University of Queensland
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Parliament of New Zealand
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Pendopo Energi Batubara - Indonesia
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Interocean Group of Companies - India
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Australian Coal Association
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Planning Commission, India
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Sinarmas Energy and Mining - Indonesia
- Electricity Generating Authority of Thailand
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- MS Steel International - UAE
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Simpson Spence & Young - Indonesia
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