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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, 14 August 15
CONDITIONS AND COMPLEXITIES IN A TRIPARTITE AGREEMENT: BE SPECIFIC! - INCE & CO
KNOWLEDGE TO ELEVATE
A tripartite agreement reached between the Owners, the Shippers and the Receivers provided that demurrage be paid to the ...
Thursday, 13 August 15
THE RATES FOR CAPES KEPT RALLYING LAST WEEK - INTERMODAL
COALspot.com: Strong Capesize performance kept supporting the Dry Bulk market last week, which noted another positive weekly closing, while rates f ...
Thursday, 13 August 15
FOB RICHARDS BAY COAL SWAPS CONTINUE FALLING
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$ ...
Wednesday, 12 August 15
DRY BULK MARKET: WITHOUT A DOUBT REACHED HEALTHIER LEVEL
A few weeks before the end of the summer season, the BDI is hovering around 1,200 points, providing some much needed optimism to all Dry Bulk marke ...
Wednesday, 12 August 15
REGULATION CURBS POWER OF LOCAL AUTHORITIES IN MINING SECTOR IN INDONESIA - FLORENCE G. SANTOSO
The Indonesian Government appears to be getting serious about stripping Regents of the authority to issue mining licenses. The Government took the ...
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- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Bhatia International Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Edison Trading Spa - Italy
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Energy Link Ltd, New Zealand
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- PTC India Limited - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- ASAPP Information Group - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Marubeni Corporation - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- Siam City Cement - Thailand
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- MS Steel International - UAE
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Mercuria Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Banpu Public Company Limited - Thailand
- Chettinad Cement Corporation Ltd - India
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Chamber of Mines of South Africa
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- White Energy Company Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
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