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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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Friday, 03 July 15
SHIPPING CONFIDENCE EQUALS SEVEN-YEAR LOW - MOORE STEPHENS
Overall confidence levels in the shipping industry fell during the three months to May 2015 to a level equal to the lowest rating recorded in the p ...
Thursday, 02 July 15
TECHNOLOGY AND INNOVATION IN MINING 2015 - IXG
Information Exchange Group’s Technology and Innovation in Mining 2015- International Summit on Mining
Press Release: The inaugural editi ...
Thursday, 02 July 15
THE PERFORMANCE OF THE CAPESIZE SEGMENT PUSHED DRY BULK MARKET TO UPWARD LAST WEEK
COALspot.com: The Dry Bulk market continued its upward movement last week, with the BDI closing off on Friday (26 June) in excess of 800 points, wh ...
Wednesday, 01 July 15
Q4'15 AND Q1'16 FOB RICHARDS BAY COAL SWAPS ROSE W-O-W AND M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and down week over week.
The Q3 swap was up US$ ...
Wednesday, 01 July 15
BEIJING HAS OFFICIALLY EXTENDED BY TWO YEARS ITS SUBSIDY PROGRAM TO SUPPORT LOCAL SHIPPING COMPANIES IN SCRAPPING THEIR OLD TONNAGE - INTERMODAL
Last week, Beijing has officially extended by two years its subsidy program to support local shipping companies in scrapping their old tonnage in w ...
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- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Minerals Council of Australia
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- IHS Mccloskey Coal Group - USA
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Central Electricity Authority - India
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Banpu Public Company Limited - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- The Treasury - Australian Government
- Wilmar Investment Holdings
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Indogreen Group - Indonesia
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Makarim & Taira - Indonesia
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Manunggal Multi Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Green Power PLC Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Straits Asia Resources Limited - Singapore
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wood Mackenzie - Singapore
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Chettinad Cement Corporation Ltd - India
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
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