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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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Wednesday, 15 July 15
SAS TO BUILD 108 KM ROAD FOR COAL IN JAMBI, SAYS JAKARTA POST
Jambi Governor Hasan Basri Agus said on Sunday that mining company PT Sinar Anugerah Sukses (SAS) would develop a 108-kilometer road with a width o ...
Tuesday, 14 July 15
FOB NEWCASTLE COAL SWAPS MAINTAIN OVERALL NEGATIVE TONE THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.02 per MT (-2.23%) month over month to US$ 44.68 per mt. The swap ...
Tuesday, 14 July 15
CFR SOUTH CHINA COAL SWAPS DECLINE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 1.47 (2.82%) per MT month over month.
A commodity swap ...
Monday, 13 July 15
THERMAL COAL IMPORTS SOAR 23 PER CENT TO 24.08 MILLION TONNES AT 12 MAJOR INDIAN PORTS
Import of thermal coal jumped 23 per cent to 24.08 million tonnes at 12 major ports in the first quarter of the fiscal, even as the government cont ...
Monday, 13 July 15
THE DRY BULK MARKET CLOSED ON A POSITIVE TONE THIS PAST WEEK
COALspot.com: Despite Greece crisis and turmoil in the stock market across the world , the freight market overall was firm and up in all segments t ...
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Showing 2926 to 2930 news of total 6871 |
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- Kumho Petrochemical, South Korea
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Eastern Coal Council - USA
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Energy Link Ltd, New Zealand
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Tata Chemicals Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Baramulti Group, Indonesia
- Australian Coal Association
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Bharathi Cement Corporation - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- PTC India Limited - India
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Interocean Group of Companies - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- PetroVietnam Power Coal Import and Supply Company
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- SMC Global Power, Philippines
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Riau Bara Harum - Indonesia
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
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