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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, 09 July 15
LACK OF FRESH BUSINESS IN THE PACIFIC LEFT CAPESIZE RATES MOVING SIDEWAYS - INTERMODAL
COALspot.com: Intermodal ship broker says in its weekly report that, a different picture from what we saw the previous week was painted during the ...
Wednesday, 08 July 15
RIO TINTO'S MODERNISED KITIMAT SMELTER BEGINS PRODUCTION; KITIMAT BECOMING ONE OF THE LOWEST COST SMELTERS IN THE WORLD
COALspot.com: Rio Tinto is preparing its first shipments of metal from its world-class Kitimat aluminium smelter in Canada following an extensive m ...
Wednesday, 08 July 15
Q3'15 INDONESIA COAL SWAP DECLINED 3.14% MONTH OVER MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and week over week, this past week.
The Q3 swap was declined $ ...
Tuesday, 07 July 15
FOB RICHARDS BAY COAL SWAPS DECLINED WEEK OVER WEEK
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$ ...
Tuesday, 07 July 15
FOB NEWCASTLE COAL SWAP ADVANCED MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.28 per MT (-0.61%) month over month to US$ 45.85 per mt. The swap wa ...
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- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Australian Coal Association
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Wood Mackenzie - Singapore
- Semirara Mining and Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Riau Bara Harum - Indonesia
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Uttam Galva Steels Limited - India
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kapuas Tunggal Persada - Indonesia
- Cigading International Bulk Terminal - Indonesia
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Makarim & Taira - Indonesia
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Orica Australia Pty. Ltd.
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- The University of Queensland
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- IEA Clean Coal Centre - UK
- Chettinad Cement Corporation Ltd - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Bangladesh Power Developement Board
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Grasim Industreis Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
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