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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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Thursday, 04 June 15
DRY BULK MARKET FAILED TO OFFER ANY POSITIVE SURPRISES - INTERMODAL
COALspot.com: This has been another week that the Dry Bulk market failed to offer any positive surprises, while the BDI, which is still faring belo ...
Wednesday, 03 June 15
SHIPPING MARKET INSIGHT - VASSILIS LOGOTHETIS
For some time now the Dry Bulk market has been severely affected by China’s slowing GDP growth rate that occurs in the background of increase ...
Tuesday, 02 June 15
FOB INDONESIA COAL Q3 SWAP ADVANCED 1.73% MONTH OVER MONTH
COALspot.com: Indonesian coal swap for delivery Q3 2015 gains month on month and lost week over week, this past week.
The Q3 swap was climbed ...
Tuesday, 02 June 15
FOB RICHARDS BAY COAL SWAPS; Q3'15 CLOSED HIGHER THAN Q1'16
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 up month over month and week over week.
The Q3 swap was up US$ 0.80 (1 ...
Monday, 01 June 15
35,000 MW POWER PLANTS TO BOOST COAL CONSUMPTION - JP
The government’s program to develop 35,000 megawatt (MW) power plants will increase domestic coal consumption, which currently stands at arou ...
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- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Planning Commission, India
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- MS Steel International - UAE
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- PNOC Exploration Corporation - Philippines
- Pendopo Energi Batubara - Indonesia
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Standard Chartered Bank - UAE
- White Energy Company Limited
- Indogreen Group - Indonesia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Minerals Council of Australia
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- The University of Queensland
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- IEA Clean Coal Centre - UK
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