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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, 19 June 15
U.S. WEEKLY COAL PRODUCTION UP SLIGHTLY COMPARED TO LAST WEEK; CONTINUES TO BE DOWN FROM LAST YEAR
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.4 million short ...
Friday, 19 June 15
INDONESIA'S COAL-TRAFFICKING PROBLEM REQUIRES IMPARTIAL INQUIRY - JAKARTA GLOBE
Indonesia, the leading supplier to the seaborne thermal coal market, produces 420 million tons of coal per year, according to its official tally.
...
Thursday, 18 June 15
DRY BULK SHIPPING: LOWEST FLEET GROWTH IN 10 YEARS MAY NOT PROVE ENOUGH AS DEMAND IS NOT KEEPING PACE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The demand side of things in the dry bulk market seems unable to keep pace with even the slightest fleet growth, a sign of the demise that the indu ...
Thursday, 18 June 15
THE FAR EAST HANDYSIZE, HANDYMAX, SUPRAMAX MARKET REMAINED STEADY LAST WEEK - INTERMODAL
COALspot.com: The Dry Bulk market closed off on Friday (last week) noting small gains on the back of stronger performance in the Panamax segment, w ...
Thursday, 18 June 15
MERCATOR'S KAMSARMAX FIXED WITH CLEARLAKE
COALspot.com: Mercator Lines (Singapore) Limited, a leading Indian-owned international dry bulk shipping company focused on markets such as India, ...
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- Pendopo Energi Batubara - Indonesia
- ICICI Bank Limited - India
- Bulk Trading Sa - Switzerland
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- White Energy Company Limited
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Ministry of Transport, Egypt
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Aditya Birla Group - India
- Billiton Holdings Pty Ltd - Australia
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- ASAPP Information Group - India
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Straits Asia Resources Limited - Singapore
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- South Luzon Thermal Energy Corporation
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- GMR Energy Limited - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Deloitte Consulting - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Rio Tinto Coal - Australia
- Cigading International Bulk Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- The University of Queensland
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Sakthi Sugars Limited - India
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