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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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Tuesday, 28 July 15
INDONESIA DELAYS PLAN TO RAISE COAL ROYALTIES AMID PLUNGING PRICE - JP
The government will postpone a plan to increase royalty payments from coal miners as they are already burdened with the commodity’s plunging ...
Tuesday, 28 July 15
API 5 FOB NEWCASTLE COAL SWAP LOST M-M AND GAINED W-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.15 per MT (-2.51%) month over month to US$ 44.62 per mt. The swap ...
Monday, 27 July 15
KOMIPO INVITES BIDS FOR TOTAL 545,000 MT OF COAL FOR BORYEONG POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to purchase total 545,000 Metric Tons (MT) of coal ...
Monday, 27 July 15
CFR SOUTH CHINA COAL SWAP WEAK M/M; FIRM W/W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.92 (1.77%) per MT month over month.
A commodity swap ...
Sunday, 26 July 15
INDO-INDIA OCEAN COAL FREIGHT RATES REMAIN STEADY
COALspot.com: The freight market continued lost steam towards end of the week and all indices were showing downward trend.
The BDI was up by 3 ...
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- London Commodity Brokers - England
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- Vizag Seaport Private Limited - India
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Ceylon Electricity Board - Sri Lanka
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- White Energy Company Limited
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Barasentosa Lestari - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Carbofer General Trading SA - India
- Orica Mining Services - Indonesia
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Planning Commission, India
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- PTC India Limited - India
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Central Java Power - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Bhatia International Limited - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Chamber of Mines of South Africa
- Uttam Galva Steels Limited - India
- Riau Bara Harum - Indonesia
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- ICICI Bank Limited - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Borneo Indobara - Indonesia
- Wood Mackenzie - Singapore
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
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