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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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Monday, 06 July 15
KOREA MIDLAND POWER COMPANY LIMITED ISSUED A TENDER FOR 250K MT BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 250K Metric Tons (MT) of 5300 kcal/kg NAR coal ...
Monday, 06 July 15
COAL TRADING & RISK MANAGEMENT TRAINING COURSE
Are you ready to invest in yourself and take your trading and risk management strategy to the next level? The Coal Trading & Risk Management Tr ...
Monday, 06 July 15
CFR SOUTH CHINA COAL SWAP; DECLINED D-O-D,W-O-W AND M-O-M
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 0.53 (1.01%) per MT month over month.
A commodity swap ...
Sunday, 05 July 15
THE BALTIC DRY INDEX WAS DOWN 18%; PANAMAX UP 9%
COALspot.com: The freight market was soft during this week. However indices closed slightly firmer end of the week on 3rd July.
The BDI was do ...
Friday, 03 July 15
U.S DELIVERS WEAK FIRST HALF COAL PRODUCTION; 8.8% LOWER Y-O-Y
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.5 million short ...
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- Neyveli Lignite Corporation Ltd, - India
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- The University of Queensland
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- Medco Energi Mining Internasional
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- White Energy Company Limited
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- SMC Global Power, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Malabar Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Kaltim Prima Coal - Indonesia
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- VISA Power Limited - India
- Parliament of New Zealand
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Indian Oil Corporation Limited
- GMR Energy Limited - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
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