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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, 06 May 15
COMBINATION OF HOLIDAYS AND A SHAKY MARKET PUT ADDITIONAL PRESSURE ON RATES
COALspot.com: The combination of holidays and a shaky market is always a recipe for additional pressure on rates and last week was no exception. Wi ...
Wednesday, 06 May 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
The first four months of 2015 are now behind us and they make up for a decent amount of time to look back and assess how the year is evolving so fa ...
Tuesday, 05 May 15
MIFA BERSAUDARA UNIT OF ABM INVESTAMA STARTS OPERATING $200M COAL MINE IN ACEH
Reswara Minergi Hartama, a coal mining unit of coal miner ABM Investama known as known as Reswara, inaugurated a $200 million integrated coal minin ...
Tuesday, 05 May 15
FREIGHT DERIVATIVE VOLUMES REACHED TOTALED 14,154 CONTRACTS IN APRIL - SGX
COALspot.com: “Our unique suite of freight and bulk commodity products provides market participants with a wide range of trading strategies a ...
Tuesday, 05 May 15
OVERSUPPLY PUTTING INDONESIAN COAL PRICES UNDER PRESSURE
COALspot.com: Indonesian coal swap for delivery Q3 2015 lost week over week and month on month, this past week.
The Q3 swap was declined US$ 1 ...
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- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Standard Chartered Bank - UAE
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Marubeni Corporation - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Madhucon Powers Ltd - India
- Simpson Spence & Young - Indonesia
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Parliament of New Zealand
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- CNBM International Corporation - China
- Bhoruka Overseas - Indonesia
- Economic Council, Georgia
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Sree Jayajothi Cements Limited - India
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- CIMB Investment Bank - Malaysia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Malabar Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- ICICI Bank Limited - India
- Mintek Dendrill Indonesia
- GN Power Mariveles Coal Plant, Philippines
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Posco Energy - South Korea
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