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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, 15 June 15
CFR SOUTH CHINA COAL SWAP: ROSE M-O-M; DECLINED W-O-W
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery rose US$ 1.43 (2.82%) per MT month over month.
A commodity swap is a ...
Sunday, 14 June 15
THE FREIGHT MARKET FINISHED THE WEEK UP COMPARED TO LAST WEEK
COALspot.com: The freight market finished the week up compared to last week. All the segments except for Cape index were up. Cape segment was ...
Friday, 12 June 15
EXPECTATIONS IN REGARDS TO THE SUMMER SEASON VARY ACROSS THE MARKET - INTERMODAL
The Dry Bulk market closed off last slightly up last week, with the BDI re-gaining the 600 points level, while the driving force behind the increas ...
Friday, 12 June 15
U.S. PRODUCED 15.1 MMST OF COAL THIS PAST WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 15.1 million short ...
Thursday, 11 June 15
IS COAL INDUSTRY GOING TO HIT A BRICK WALL?
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.59 per MT fo ...
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- Eastern Coal Council - USA
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Medco Energi Mining Internasional
- Rashtriya Ispat Nigam Limited - India
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Independent Power Producers Association of India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- India Bulls Power Limited - India
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Australian Coal Association
- PTC India Limited - India
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Videocon Industries ltd - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- Renaissance Capital - South Africa
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Aditya Birla Group - India
- GMR Energy Limited - India
- Planning Commission, India
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Meralco Power Generation, Philippines
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
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