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Wednesday, 05 August 15
SHIPPING MARKET INSIGHT - KATERINA RESTIS
 On July 14th, 2015 a historical consensus was reached in Vienna between Iran and the five permanent members of the U.N. Security Council, plus Germany (P5+1), to eliminate Tehran’s nuclear program in return for lifting international oil and financial sanctions. The US-Iran deal is the most important breakthrough in their bilateral relationship since 1979, when the Iranian revolution disturbed their relations. In particular, Iran has agreed not to produce any plutonium enriched weapons and additional heavy water reactors for 15 years. The assurance that Iran is satisfying the deal’s commitments will be granted through an extensive UN inspection and observation under the International Atomic Energy Agency (IAEA). It is discussed that assessments and transparency measures may remain in place for as long as 25 years. Expressly, President Obama stated that “this relief will be phased in. Iran must complete key nuclear steps before it begins to receive sanctions relief.”
The markets are already looking towards the challenges, options and prospects that will emerge with the deal being signed. Notably, oil prices fell due to investors’ expectations of an increase in oil exports from Iran to an already oversupplied market. It is estimated that Iran could supply an extra 200k-400k bpd of crude in 2016 on top of a release of 20-40 million barrels from floating storage. The NIOC Managing Director states that if there is enough demand, it is estimated that production could increase by 500k-600k bpd reaching its pre-sanctions level of 4 million bpd within 6 to 12 months. Furthermore, China’s economy is witnessing a growth slow down, while global oil production is close to record highs and thus traders weigh the risk of oil prices possibly falling further.
Furthermore, the agreement will gradually benefit companies that transport Iranian Oil. Once the EU ban on insuring tankers carrying Iranian crude is lifted, imports to countries such as India and Turkey will be comforted and will promote the purchase of contracted volumes. Iran has traditionally been India’s second-largest supplier of crude oil and the prospect of lifting sanctions will also facilitate Pakistan to complete the Iran-Pakistan pipeline. Moreover, it would again be legal for P&I insurance clubs and companies that cover shipowners for several risks to insure Iranian oil cargoes.
Likewise, it is estimated that lifting petrochemical sanctions will permit $1 billion in exports for Iran. The increase in Iranian supplies of oil and gas would trickle down to Europe’s chemical industry, creating a potential game changer for energy-intensive businesses. A traditional player is coming back into the market and preeminently needs to sell, therefore chemical plants of Europe will definitely benefit. Energy companies from Royal Dutch Shell to BP commented after the deal was signed that they were examining their options in a post-sanctions Iran, where production and export potential could expand with the appropriate investment strategies.
Decades of sanctions have inevitably affected the local population and Iranian political setup. With the prospect of sanctions being lifted, Iran’s economic potential will allow for numerous opportunities not only for Iran but also for the wider region, which will directly translate into an increased influence in the Middle East. More importantly, the deal will have some prompt and long-term influence both on global and regional level. The deal will bring out Iran from international isolation. Nevertheless, Iran will have to wait for almost a year to yield the financial returns of the deal, while the six major world powers will most probably reap the benefits of the lower cost of oil immediately.
By Katerina Restis
Tanker Chartering
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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Monday, 21 September 15
KOMIPO OF KOREA INVITES BIDS FOR BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 390,000 Metric Tons (MT) of minimum 4,600 kcal ...
Sunday, 20 September 15
BALTIC CAPE INDEX ROSE 66.52 PER CENT AND STAND NOW AT 1995 POINTS
COALspot.com: The BDI (Baltic Dry Index) rose 17.35 per cent week over week to 960 points on Friday mainly driven by the Capesize segment. The Cape ...
Friday, 18 September 15
SHIPPING AND THE FED RATE DECISION: FINANCING COSTS COULD RISE EVEN HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Regardless of the FED’s decision to raise rates, shipping stands to be influenced by the decision. Shipbroker Allied Shipbroking noted this w ...
Friday, 18 September 15
U.S. COAL PRODUCTION DECLINED 6.7 PER CENT W-W: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.4 million shor ...
Thursday, 17 September 15
COALSPOT HAS LAUNCHED NEW THERMAL COAL INDICES FOR INDONESIAN COAL
COALspot.com has today launched real-time CS (i) Coal Indices.
The Indices represents 3800 kcal/kg GAR, 4200 kcal/kg GAR, 5000 kcal/kg GAR a ...
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- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Marubeni Corporation - India
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Electricity Generating Authority of Thailand
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Africa Commodities Group - South Africa
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Makarim & Taira - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Barasentosa Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Energy Development Corp, Philippines
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Bulk Trading Sa - Switzerland
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- CNBM International Corporation - China
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Planning Commission, India
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Heidelberg Cement - Germany
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- The University of Queensland
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
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