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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, 29 May 15
SOUTH KOREAN STATE-OWNED UTILITY KOREA MIDLAND POWER INVITES BIDS FOR 780K MT OF COAL FOR H2' 15
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 780K Metric Tons (MT) of HCV and LCV ...
Thursday, 28 May 15
TIMEBAR FOR DEMURRAGE CLAIMS - SKULD
KNOWLEDGE TO ELEVATE
English law has traditionally had a strict approach to contractually agreed time bars between commercial parties as well ...
Wednesday, 27 May 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
Earlier in the year I looked at how the market was reacting to the prolonged fall of the price of oil. Back then it was still unclear if the fallin ...
Tuesday, 26 May 15
HOW HAS THE DROP IN OIL PRICES AFFECTED OTHER COMMODITIES? - CLYDE & CO
KNOWLEDGE TO ELEVATE
The effects of the dramatic drop in the price of both Ice March Brent, the international oil marker, and its US counterpa ...
Tuesday, 26 May 15
MINING ASSOCIATION PERHAPI PUSHES FOR 35,000 MEGAWATT ELECTRICITY PROGRAM - JG
The Indonesian Mining Professionals Association, or Perhapi, has announced its support for a 35,000-megawatt national electricity program, saying i ...
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- Therma Luzon, Inc, Philippines
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Georgia Ports Authority, United States
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Thiess Contractors Indonesia
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Edison Trading Spa - Italy
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Riau Bara Harum - Indonesia
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Timah Investasi Mineral - Indoneisa
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- European Bulk Services B.V. - Netherlands
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- PTC India Limited - India
- CNBM International Corporation - China
- Barasentosa Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Metalloyd Limited - United Kingdom
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Power Finance Corporation Ltd., India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Singapore Mercantile Exchange
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- The University of Queensland
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
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