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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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Tuesday, 30 June 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED $ 43.45 PER MT
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and flat week over week, this past week.
The Q3 swap was decli ...
Monday, 29 June 15
CFR SOUTH CHINA COAL SWAPS UP SLIGHTLY MONTH OVER MONTH
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 0.57 (1.11%) per MT month over month.
A commodity swap is a ...
Monday, 29 June 15
FOB NEWCASTLE COAL SWAP SLIGHTLY UP MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.49 per MT (1.08%) month over month to US$ 45.77 per mt. The swap was ...
Saturday, 27 June 15
THE FREIGHT MARKET WAS STEADY EARLIER IN THE WEEK; SOFTEN INTO WEEK'S END
COALspot.com: The freight market remain steady earlier in the week, but towards end of the week BDI and BCI shows some signs of softening.
The ...
Friday, 26 June 15
INDONESIA COAL PRODUCTION FALLS BETWEEN JAN-MAY : JG
The Ministry of Energy and Mineral Resources announced that coal production declined to 166 million tons between January and May, a 19 percent drop ...
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- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- MS Steel International - UAE
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Parry Sugars Refinery, India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jindal Steel & Power Ltd - India
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- White Energy Company Limited
- Planning Commission, India
- Economic Council, Georgia
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Energy Development Corp, Philippines
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Metalloyd Limited - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Thai Mozambique Logistica
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- SMC Global Power, Philippines
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
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