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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, 20 May 15
FOB RICHARDS BAY COAL SWAPS GAINED M-O-M, W-O-W
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 increased month over month and week over week.
The Q3 swap has increas ...
Wednesday, 20 May 15
BUKIT ASAM'S AVERAGE EXPORT PRICE WAS UNDER PRESSURE DURING Q1
COALspot.com: Indonesia’s state owned coal producer saw their profits fall in the first quarter of the year compared to the same period last ...
Wednesday, 20 May 15
IRON ORE PRICES TO REMAIN WEAK ON LOW DEMAND, HIGH OUTPUT - FITCH
Iron ore prices will stay low for several years due to increasing supply, weak demand growth in China and the slower-than-expected closure of high- ...
Tuesday, 19 May 15
KOMIPO IS SEEKING TOTAL 2.34 MMT OF HCV AND LCV COAL FOR 2015 - 2017
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender to buy total 2.34 million Metric Tons (MT) of HCV ...
Monday, 18 May 15
FOB NEWCASTLE COAL SWAPS SCORE MONTHLY GAINS
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery gained US$ 0.87 per MT (1.99%) month over month and lost US$ 0.03 week on w ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Indo Tambangraya Megah - Indonesia
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Agrawal Coal Company - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Intertek Mineral Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Indonesian Coal Mining Association
- Australian Coal Association
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Siam City Cement - Thailand
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- Standard Chartered Bank - UAE
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Kartika Selabumi Mining - Indonesia
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Planning Commission, India
- Anglo American - United Kingdom
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Oldendorff Carriers - Singapore
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Karaikal Port Pvt Ltd - India
- Energy Development Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Goldman Sachs - Singapore
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
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