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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, 05 August 15
COAL CONSUMPTION POSTED THE STRONGEST GROWTH AMONG THE FOSSIL ENERGY SOURCES IN 2014 - VDKI
Coal 2014: again the world's fastest-growing primary energy source and an indispensable asset for the success of the energy turnaround.
Ac ...
Wednesday, 05 August 15
FOB INDONESIA THERMAL COAL SWAPS FALL
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 $ ...
Wednesday, 05 August 15
DRY BULKER PRICES START TO FIRM UP AS MARKET SENTIMENT IMPROVES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Market pessimism in the dry bulk industry, a trend which had established itself over the course of the year, has started to fade away over the past ...
Tuesday, 04 August 15
FOB RICHARDS BAY COAL SWAPS CONTINUE TO FALL DUE TO SLIDING DEMAND
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$ ...
Tuesday, 04 August 15
SHIPPING CYCLES - A CHESS GAME YOU DON'T WANT TO LOSE - CLARKSONS
Ingmar Bergman’s classic movie The Seventh Seal is about a knight who, during the Black Death, challenges Death to a chess match, in the hope ...
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- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Sojitz Corporation - Japan
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- International Coal Ventures Pvt Ltd - India
- Electricity Authority, New Zealand
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Independent Power Producers Association of India
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Manunggal Multi Energi - Indonesia
- Mercuria Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Mercator Lines Limited - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Eastern Energy - Thailand
- Cigading International Bulk Terminal - Indonesia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Ambuja Cements Ltd - India
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Chamber of Mines of South Africa
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Bhushan Steel Limited - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
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