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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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Wednesday, 10 June 15
TANKER MARKET INSIGHT - STELIOS KOLLINTZAS
As we go through the end of the 2nd quarter of the year it is evident that the tanker shipping markets have been rewarding and definitely been show ...
Wednesday, 10 June 15
WORLD COAL MARKET HEADING TO NEW EQUILIBRIUM: MINISTER - JAKARTA POST
Energy and Mineral Resources Minister Sudirman Said has said the world’s coal market is heading towards a new balance, which will make Indone ...
Wednesday, 10 June 15
FOB INDONESIA COAL SWAP ROSE W-O-W AND M-O-M
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month and week over week, this past week.
The Q3 swap was climbed by $ ...
Tuesday, 09 June 15
GLOBALCOAL IMPLEMENTS VOLUMETRIC SIZE LIMITS IN RICHARDS BAY MARKET
COALspot.com: globalCOAL today announced that following recent market consultation, it will limit bids, offers and trades in the fixed price Phys R ...
Tuesday, 09 June 15
FOB RICHARDS BAY COAL SWAPS DECLINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was fell US$ ...
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- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Planning Commission, India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Tamil Nadu electricity Board
- Economic Council, Georgia
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Chettinad Cement Corporation Ltd - India
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Port Waratah Coal Services - Australia
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- Barasentosa Lestari - Indonesia
- White Energy Company Limited
- Bhatia International Limited - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Neyveli Lignite Corporation Ltd, - India
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Africa Commodities Group - South Africa
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Green Power PLC Corporation, Philippines
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
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