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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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- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Wood Mackenzie - Singapore
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Maheswari Brothers Coal Limited - India
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Ministry of Transport, Egypt
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Jaiprakash Power Ventures ltd
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Gujarat Electricity Regulatory Commission - India
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- Malabar Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Kumho Petrochemical, South Korea
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- Baramulti Group, Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
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