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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, 21 July 15
CHINA'S ENERGY COMMODITY IMPORTS DIVERGING - RICHARD SCOTT | HELLENIC SHIPPING NEWS
Energy commodity imports into China have grown enormously over the past decade, boosting global demand for shipping capacity. But a dramatic change ...
Tuesday, 21 July 15
FOB INDONESIA COAL SWAPS EXTEND LOSS
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and week over week, this past week. The swaps was lost 0.70%.
...
Tuesday, 21 July 15
Q4'15 FOB RBCT COAL SWAP DECLINES NEARLY 3.13 PER CENT MONTH OVER MONTH
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
Monday, 20 July 15
FOB NEWCASTLE COAL SWAP SEE FURTHER DECLINES
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.32 per MT (-2.89%) month over month to US$ 44.43 per mt. The swap ...
Monday, 20 July 15
CFR SOUTH CHINA COAL SWAPS GAIN WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 1.18 (2.27%) per MT month over month.
A commodity swap ...
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- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- White Energy Company Limited
- Wilmar Investment Holdings
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Maharashtra Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Planning Commission, India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- ICICI Bank Limited - India
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Australian Commodity Traders Exchange
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Minerals Council of Australia
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- The Treasury - Australian Government
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Orica Mining Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
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