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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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Friday, 04 September 15
GOVERNORS WILL HAVE THE POWER TO REVOKE MINERS' PERMITS: ENERGY MINISTRY - JG
Starting Oct. 1, Indonesia's governors will lawfully become "executors" in revoking the licenses of miners that fail to secure a &quo ...
Thursday, 03 September 15
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO REVISE HBA METHODOLOGY
COALspot.com: Ministry of Energy and Mineral Resources (ESDM) in process to revise Indonesian Coal Price Reference (HBA) and expected to complete b ...
Thursday, 03 September 15
THE CHINESE STOCK MARKET AND THE CHINESE ECONOMY CONTINUE TO SUBSTANTIALLY AFFECT TRADING - INTERMODAL
The last week of the summer season saw the BDI dipping further on the back of another significant drop in rates for Capes, which brought the market ...
Wednesday, 02 September 15
PORT OF NEWCASTLE SHIPPED 13.46 MMT OF COAL IN JULY; UP 0.66 PER CENT M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.224 billi ...
Wednesday, 02 September 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
In the beginning of the summer period SnP activity was firm with numerous buyers, coming mainly from Greece and the Far East, inspecting ships and ...
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- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Wood Mackenzie - Singapore
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Iligan Light & Power Inc, Philippines
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- New Zealand Coal & Carbon
- Africa Commodities Group - South Africa
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Bukit Makmur.PT - Indonesia
- Bharathi Cement Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- India Bulls Power Limited - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- McConnell Dowell - Australia
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Link Ltd, New Zealand
- Petron Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Parliament of New Zealand
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- Romanian Commodities Exchange
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Indogreen Group - Indonesia
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
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