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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, 26 June 15
COAL PRODUCTION IN THE U.S ROSE 6.0% WEEK OVER WEEK, SAYS EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.3 million short ...
Thursday, 25 June 15
THE PORT OF NEWCASTLE SHIPPED 13.31% MORE COAL IN MAY 2015 COMPARED TO APRIL 2015
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.18 billio ...
Thursday, 25 June 15
CAPESIZE: PERIOD INTEREST REMAINED STRONG FOR A SECOND WEEK - INTERMODAL
COALspot.com: Following those depressive last six months, the BDI closed off on last Friday noting a substantial weekly increase, which pushed the ...
Wednesday, 24 June 15
PANAMAXES: THE OUTLOOK REMAINS NEGATIVE AS DEMAND FOR COAL IS DIMINISHING - YANNIS OLZIERSKY
As we get closer to the end of June, we can safely say that the 1st half of the year is leaving the dry bulk market with a bitter taste that we all ...
Tuesday, 23 June 15
Q3 FOB INDONESIA COAL SWAP FALL $1.12 IN ONE 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 $ ...
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- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
- Makarim & Taira - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- The University of Queensland
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Deloitte Consulting - India
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Bhatia International Limited - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Directorate General of MIneral and Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Australian Coal Association
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Rashtriya Ispat Nigam Limited - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Anglo American - United Kingdom
- Merrill Lynch Commodities Europe
- Uttam Galva Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Kideco Jaya Agung - Indonesia
- Orica Australia Pty. Ltd.
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Altura Mining Limited, Indonesia
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Offshore Bulk Terminal Pte Ltd, Singapore
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