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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, 17 August 15
INDONESIAN THERMAL COAL REFERENCE PRICE HITS RECORD LOW AGAIN!
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.14 per MT fo ...
Monday, 17 August 15
CFR SOUTH CHINA COAL SWAPS CONTINUE TO HEAD SOUTH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US cents 40 (1.05%) per MT month over month.
A commodi ...
Sunday, 16 August 15
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO STEADY NEXT WEEK
COALspot.com: The BDI softened 12.08 per cent to 1055 points this week due to weakening of cape index which was fell 25 per cent week over week to ...
Friday, 14 August 15
FOB INDONESIA COAL SWAP SHOWING NO MOVEMENT THIS PAST WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week, this past week.
The 4Q swap was declined $ ...
Friday, 14 August 15
U.S. COAL PRODUCTION UP 2.9 PER CENT THIS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.2 million shor ...
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- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Petron Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- Gujarat Sidhee Cement - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Indika Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- The University of Queensland
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Anglo American - United Kingdom
- Ministry of Finance - Indonesia
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Australian Coal Association
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
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