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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, 07 September 15
CFR SOUTH CHINA COAL SWAPS ROSE 1.1 PER CENT WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.52 (3 %) per MT month over month.
A commodity sw ...
Sunday, 06 September 15
AUTOMATION AND TECHNOLOGY IS CERTAINLY PART OF THE SOLUTION FOR IMPROVING PERFORMANCE AND EFFICIENCY TO MAKE THE MINE OPERATIONS MORE PROFITABLE, HOWEVER............ - LUKE JALSEVAC
"The Technology and Innovation in Mining 2015" production team at Information Exchange Group interviewed Luke Jalsevac, Director, Busines ...
Sunday, 06 September 15
THE CAPE SIZE INDEX ROSE 10.83 PER CENT WEEK OVER WEEK
COALspot.com: The BDI, the Baltic exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, declined o ...
Saturday, 05 September 15
DRY BULK MARKET MAY SUFFER NOW, BUT IS BOUND FOR A RECOVERY THANKS TO A LIMITED FUTURE FLEET GROWTH - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The slow increase of dry bulk tonnage growth this year could turn into a solid indicator of the market’s future prospects. According to a rec ...
Friday, 04 September 15
U.S. COAL PRODUCTION FOR THE W/E AUGUST 29, UP SLIGHTLY; FALL 4.5 PERCENT Y-Y: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.7 million shor ...
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- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Gujarat Sidhee Cement - India
- Power Finance Corporation Ltd., India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Borneo Indobara - Indonesia
- Orica Mining Services - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Banpu Public Company Limited - Thailand
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Sinarmas Energy and Mining - Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Vizag Seaport Private Limited - India
- Sree Jayajothi Cements Limited - India
- Bulk Trading Sa - Switzerland
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Coalindo Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Indian Energy Exchange, India
- Anglo American - United Kingdom
- Tamil Nadu electricity Board
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Economic Council, Georgia
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- The University of Queensland
- VISA Power Limited - India
- Rio Tinto Coal - Australia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- PowerSource Philippines DevCo
- Mjunction Services Limited - India
- Minerals Council of Australia
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Eastern Energy - Thailand
- AsiaOL BioFuels Corp., Philippines
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
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