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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, 30 April 15
IRON ORE PLAYS EXPECTED TO SHAPE UP MAY DRY BULK SCHEDULE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Market plays in the iron ore commodities’ markets, are expected to carve out the future demand for the shipping industry as well, said Allied ...
Wednesday, 29 April 15
MARKET INSIGHT - INTERMODAL
The figures of China’s slowing down imports of coking coal for the first quarter of the year are coming to confirm what everybody was expecti ...
Wednesday, 29 April 15
SHIPBUILDERS START OFFERING DISCOUNTS FOR DRY BULK NEWBUILDINGS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It took a while, but now it appears that some shipbuilders are beginning to adjust their price lists to the new grim reality of the dry bulk market ...
Tuesday, 28 April 15
FOB INDONESIA COAL SWAP DECLINED M-O-M; INCREASED W-O-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 gained week over week but declined month on month.
The Q2 swap was declined US$ 0.15 ( ...
Tuesday, 28 April 15
Q2' 15 FOB RICHARDS BAY COAL SWAP CLOSED 4.18% HIGHER FROM MONTH AGO
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 increased month over month and slightly week over week.
The Q2 swap ha ...
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- Petrochimia International Co. Ltd.- Taiwan
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Tamil Nadu electricity Board
- Altura Mining Limited, Indonesia
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Ambuja Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Makarim & Taira - Indonesia
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Interocean Group of Companies - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Toyota Tsusho Corporation, Japan
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Globalindo Alam Lestari - Indonesia
- Thiess Contractors Indonesia
- Bangladesh Power Developement Board
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Formosa Plastics Group - Taiwan
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Sical Logistics Limited - India
- VISA Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- SMC Global Power, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Australian Coal Association
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Bharathi Cement Corporation - India
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Independent Power Producers Association of India
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Indian Oil Corporation Limited
- Parry Sugars Refinery, India
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
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