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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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Thursday, 16 July 15
INDONESIA'S HBA HITS ALL-TIME LOW OF $59.16 PER METRIC TON IN JULY 2015
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.16 pe ...
Thursday, 16 July 15
FOB RICHARDS BAY COAL SWAPS DECLINE W-O-W, M-O-M
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$ ...
Wednesday, 15 July 15
WEEKLY SHIPPING MARKET INSIGHT - INTERMODAL
The last few weeks have been rather strenuous for Greece and China, each for their own reasons, affecting most markets around the world. In Greece ...
Wednesday, 15 July 15
IRAN OIL RECOVERY TO TAKE YEARS, BUT COULD START IN 2016 - FITCH
Iranian crude oil production is likely to increase in 2016 but will take a number of years to reach its previous peak, Fitch Ratings says.
The ...
Wednesday, 15 July 15
SAS TO BUILD 108 KM ROAD FOR COAL IN JAMBI, SAYS JAKARTA POST
Jambi Governor Hasan Basri Agus said on Sunday that mining company PT Sinar Anugerah Sukses (SAS) would develop a 108-kilometer road with a width o ...
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- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Planning Commission, India
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Xindia Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Coal Association
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Makmur.PT - Indonesia
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- Economic Council, Georgia
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Directorate Of Revenue Intelligence - India
- Kumho Petrochemical, South Korea
- Larsen & Toubro Limited - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Vedanta Resources Plc - India
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Straits Asia Resources Limited - Singapore
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Deloitte Consulting - India
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Lanco Infratech Ltd - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Mercuria Energy - Indonesia
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