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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, 28 August 15
DRY BULK SHIP OWNER OPTIMISTIC ABOUT FUTURE PROSPECTS OF THE MARKET: NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk ship owner Golden Ocean appeared optimistic on the long term prospects of the dry bulk market, mainly thanks to an expected resolution of ...
Friday, 28 August 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING AUGUST 22 ROSE FOR THE THIRD STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.5 million shor ...
Friday, 28 August 15
BANPU STRENGTHENS GROWTH PLAN
Coal Business: Asia-Pacific Synergies Increase Competitiveness for Premium Export Market.
Banpu Public Company Limited (BANPU) strengthens its ...
Thursday, 27 August 15
RATES FOR CAPES REMAINED ON A FREE FALL LAST WEEK - INTERMODAL
COALspot.com: Keeping everyone on their toes with the volatility seen in August, the Dry Bulk market undoubtedly remains a steady provider of chall ...
Wednesday, 26 August 15
MARKET INSIGHT - STRATOS TINIAKOS
It’s always interesting to comment on the market when big economies around the world are facing troubling times. Following the collapse of th ...
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- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Wilmar Investment Holdings
- GMR Energy Limited - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Coastal Gujarat Power Limited - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Bhushan Steel Limited - India
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- The University of Queensland
- Billiton Holdings Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Cement Manufacturers Association - India
- White Energy Company Limited
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- MS Steel International - UAE
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Planning Commission, India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Larsen & Toubro Limited - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Minerals Council of Australia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- London Commodity Brokers - England
- GN Power Mariveles Coal Plant, Philippines
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Straits Asia Resources Limited - Singapore
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