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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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Wednesday, 26 August 15
2Q'16 FOB INDONESIA COAL SWAP FALLS NEARLY 4.76 PER CENT M-O-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap was declined $ 2.20 (-5.13%) p ...
Tuesday, 25 August 15
INDONESIA MINERS' NPLS TO RISE FURTHER, BANK RISKS BUILD - FITCH
The NPLs of Indonesian mine and mine services companies are likely to rise further in the short term, says Fitch Ratings, after reaching multi-year ...
Tuesday, 25 August 15
MINER'S EARNINGS DROP ON FALLING COAL PRICES; Q2'16 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 52.23 A TON
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Monday, 24 August 15
FOB NEWCASTLE COAL SWAPS HIT FRESH LOW, DIPPING BELOW $42 A TON
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 2.20 per MT (-5.01%) month over month to US$ 41.70 per mt. The swap ...
Monday, 24 August 15
Q1'16 CFR SOUTH CHINA COAL SWAP CLOSED AT $ 48.65 PMT
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 1.89 (3.74%) per MT month over month.
A commodity ...
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- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Meralco Power Generation, Philippines
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- European Bulk Services B.V. - Netherlands
- Bharathi Cement Corporation - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- London Commodity Brokers - England
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Gujarat Sidhee Cement - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Africa Commodities Group - South Africa
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Baramulti Group, Indonesia
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Metalloyd Limited - United Kingdom
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Star Paper Mills Limited - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
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