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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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Sunday, 12 July 15
SHIPYARD NOT LIABLE FOR ENGINE ROOM FIRE CAUSED BY OIL LEAKAGE - BIRCH WINDAHL
KNOWLEDGE TO ELEVATE
A Danish vessel owner requested a Danish shipyard to undertake repairs and maintenance works on its vessel. An agreement ...
Saturday, 11 July 15
MAJOR IRANIAN GAS EXPORTS WILL TAKE AT LEAST FIVE YEARS - FITCH
Iran has the long-term potential to become one of the world's top gas producers, thanks to its 34 trillion cubic meters (tcm) of natural gas re ...
Friday, 10 July 15
DRY BULK MARKET KEEPS POSITIVE MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its positive momentum over the course of the past few days, thanks to Panamax gains. During yesterday’s session ...
Friday, 10 July 15
U.S PRODUCED APPROXIMATELY TOTALED AN ESTIMATED 14.1 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 14.1 million short ...
Thursday, 09 July 15
CPP MARKET : POSITIVE IN THE SHORT TERM - GEORGE VASTARDIS
Despite the traditionally quieter summer period, the clean tanker market has so far experienced healthy activity especially East of Suez. Increased ...
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- Edison Trading Spa - Italy
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- CIMB Investment Bank - Malaysia
- Bukit Makmur.PT - Indonesia
- Barasentosa Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Mintek Dendrill Indonesia
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Global Business Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Electricity Authority, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Directorate General of MIneral and Coal - Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- The Treasury - Australian Government
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Deloitte Consulting - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Karaikal Port Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Port Waratah Coal Services - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Sojitz Corporation - Japan
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
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