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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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Thursday, 17 September 15
LOW DEMAND PUSH COAL SWAP DOWN
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and gain week over week.
The 4Q swap declined $ 1.77 (-4.17%) ...
Thursday, 17 September 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
Having experienced, as it was much anticipated, a poor 1st half combined with negative forecasts, summer, in sharp contrast, proved to be more hope ...
Wednesday, 16 September 15
SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES LED A DECLINE IN INDONESIAN COAL PRODUCTION
COALspot.com: Slower growth in world coal demand particularly China and lower international coal prices have led to a decline in Indonesian coal pr ...
Wednesday, 16 September 15
HIGHER TAXES COULD LEAD GREEK SHIP OWNERS OUT OF THE COUNTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
A potential taxation overhaul of the shipping industry in Hellas, which could see the loss of particular tax benefits for ship owners, could lead t ...
Tuesday, 15 September 15
WORLD SEABORNE TRADE: ENTERING INTO A ROLE REVERSAL? - CLARKSONS
Over the past decade, world seaborne trade growth has been dominated by dry bulk and container trade. However, developments in the global economy t ...
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- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Independent Power Producers Association of India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- ICICI Bank Limited - India
- Tata Chemicals Ltd - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Iligan Light & Power Inc, Philippines
- Indian Energy Exchange, India
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Toyota Tsusho Corporation, Japan
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vizag Seaport Private Limited - India
- Medco Energi Mining Internasional
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- CIMB Investment Bank - Malaysia
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Latin American Coal - Colombia
- Rashtriya Ispat Nigam Limited - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Siam City Cement PLC, Thailand
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
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