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Wednesday, 15 July 15
ANY FUTURE IRAN OIL DEAL WILL BOOST SUPPLY FUNDAMENTALS WITH TANKER OWNERS HOPING FROM TEHRAN TO QUICKLY BOOST ITS PRODUCTION
With the Greek “Euro-drama” apparently over, at least for now, Iran’s oil deal still remains elusive, with any potential agreement now being delayed at least unitl the fourth quarter of the year. This weekend was another missed deadline to reach an agreement, just as the oil markets began to price in the prospect of more oil coming in. According to the latest report from shipbroker Gibson, whilst both sides appear willing to continue, the failure to seal a deal last night means that US lawmakers will have two months to scrutinise any proposal, opposed to just one month had the deal been signed last night. Therefore, it is unlikely that sanctions will be lifted before the fourth quarter.
However, as Gibson noted, “if sanctions are removed, Iran will understandably be keen to re-capture market share, notably in Europe and Asia. Exports of Iranian oil to OECD Europe peaked at just below 900,000 b/d in 2007, contrasted to 120,000 b/d in the first quarter of 2015. A similar trend has been observed in OECD Asia whereby imports have declined from 700,000 b/d to 270,000 b/d over the same period. Imports into OECD Asia since 2007 have gone almost exclusively to Japan and Korea. However, exports to China, which is not part of the OECD have followed an opposite trend. In 2007, Chinese imports of Iranian oil stood at 530,000 b/d and have risen to remain consistently above 1 million b/d since 2011, coinciding with the implementation of Western sanctions. Exports to India, another key market for Iran, have also been under pressure, shrinking to just 220,000 b/d for the year to date”, the London-based shipbroker said in its latest weekly report.
Gibson added that “Iran has made it clear that it will endeavour to return exports to pre sanction levels if the embargo is lifted. Whilst Tehran claims it could increase production immediately by 500,000 b/d and then another 500,000 b/d six months later, most market participants are more pessimistic. However, oil/condensate in floating storage, which Gibson estimates at approximately 42 million barrels, could be quickly released. With little indication that other OPEC members would be willing to cut production to accommodate additional Iranian barrels, the demand side developments for the crude tanker market would certainly be positive. Further support may also be found from the inherent symptoms of increasing production in an oversupplied market, notably with regards to difficulties in placing and discharging cargoes ashore”.
Of course, with more Iranian crude, comes the release of more Iranian tonnage. According to Gibson, “the Iranian fleet currently consists of 37 VLCCs (5.8% of the global VLCC fleet), 12 Suezmaxes and 5 Aframaxes, with most currently absent from the conventional tanker market. The Iranian fleet will need to re-establish compliance with international standards if it is to enter the mainstream spot markets. However, these vessels will continue to serve a purpose and are likely to get first refusal on any Iranian cargoes. Furthermore, our analysis of Iranian trading patterns identifies a number of operational inefficiencies (for example extreme slow steaming) which could be quickly rectified in response to higher demand. Therefore, the net effect is not only more ships, but also improved trading efficiency, bolstering the supply fundamentals”, said Gibson.
The shipbroker concluded its analysis by noting that “if sanctions are lifted, it may be that Iranian vessels return to the market before any significant increases in crude exports, which would prove immediately bearish for the sector. On this basis tanker owners would hope Tehran ramp up its production as quickly as possible in order to absorb this additional tonnage”.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Monday, 20 July 15
CFR SOUTH CHINA COAL SWAPS GAIN WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 1.18 (2.27%) per MT month over month.
A commodity swap ...
Sunday, 19 July 15
BDI GAINED AND CROSSED 1000 MARK THIS WEEK
COALspot.com: The BDI gained and crossed 1000 mark after many months this Friday. The BDI was up almost 20 pct and closed 1048 points on 17 July 20 ...
Saturday, 18 July 15
INTERVIEW : FRANZ ESCALANTE, CHIEF OF INFORMATION SYSTEMS, MINERA CHINALCO, PERU
We are interested in the technology of Autonomous trucks, the new-generation trucks are not remote controlled, they are truly autonomous - Franz Es ...
Friday, 17 July 15
COAL PRODUCTION IN THE U.S. INCREASES SHARPLY FOR THE WEEK ENDING JULY 11
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.4 million short ...
Friday, 17 July 15
INDONESIAN POWER-STATION COAL SWAPS DECLINE CONTINUES THIS PAST WEEK
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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Showing 2916 to 2920 news of total 6871 |
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- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- SMG Consultants - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Jaiprakash Power Ventures ltd
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Mintek Dendrill Indonesia
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Baramulti Group, Indonesia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Australian Coal Association
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Essar Steel Hazira Ltd - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- CNBM International Corporation - China
- Karaikal Port Pvt Ltd - India
- Central Java Power - Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
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