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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, 12 August 15
FOB NEWCASTLE COAL SWAP FLAT WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 0.98 per MT (-2.20%) month over month to US$ 43.65 per mt. The swap ...
Tuesday, 11 August 15
GLOBAL PRODUCTION OF CRUDE STEEL REACHED A NEW ALL-TIME HIGH OF 1,661M TONNES IN 2014 - VDKI
COALpot.com: Global production of crude steel reached a new all-time high of 1,661m tonnes in 2014, said German Coal Importer Association, in its l ...
Tuesday, 11 August 15
2016 CFR S.CHINA COAL SWAPS CLOSED SLIGHTLY HIGHER THAN 4Q 2015 CLOSING PRICES; BUT NOT SIGNIFICANT
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US cents 10 (0.20%) per MT month over month.
A commodi ...
Monday, 10 August 15
SOUTH KOREAN UTILITY KOMIPO INVITES BITUMINOUS COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 560,000 Metric Tons (MT) of 4,600kcal/kg NAR c ...
Sunday, 09 August 15
THE PANAMAX MARKET HAS REMAINED WEAK THIS WEEK
COALspot.com: The freight market continued to be buoyant with cape index pushing the BDI.
The BDI was up 10.49% and closed at 1200 points on 7 ...
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- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- Coalindo Energy - Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Global Business Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Bharathi Cement Corporation - India
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sical Logistics Limited - India
- Timah Investasi Mineral - Indoneisa
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Minerals Council of Australia
- Eastern Coal Council - USA
- Orica Mining Services - Indonesia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- VISA Power Limited - India
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Bhatia International Limited - India
- The University of Queensland
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- Vizag Seaport Private Limited - India
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