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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, 24 April 15
IS INDIA THE 'NEW CHINA' WHEN IT COMES TO THE DRY BULK MARKET? - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been feeling the “heat” of China’s slowdown and together with the industry’s own failings, with ove ...
Friday, 24 April 15
GLOBAL STEEL PRODUCTION OUTSIDE OF CHINA CONTINUES TO FARE VERY POORLY - JEFFREY LANDSBERG
COALspot.com: Data released this week showed that global crude steel production totaled approximately 138.05 million tons in March.
Wha ...
Friday, 24 April 15
WEEKLY U.S. COAL PRODUCTION ESTIMATE FALLS 5.7% FROM LAST WEEK
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 17.0 million short ...
Wednesday, 22 April 15
PANAMAX : ATLANTIC HOLDING ON TO THE GAINS OF THE PREVIOUS WEEK; PACIFIC BUSINESS SLID QUIETLY
COALspot.com: The Dry Bulk market managed to close off the week on a positive note last Friday, while as opposed to what we have been used to, it w ...
Wednesday, 22 April 15
TANKER MARKET INSIGHT - STRATOS TINIAKOS
The current environment we experience as a result of low crude oil prices is characterized by the increased demand for petroleum products in OECD c ...
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- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Electricity Authority, New Zealand
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Chamber of Mines of South Africa
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- White Energy Company Limited
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Sical Logistics Limited - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Parry Sugars Refinery, India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- London Commodity Brokers - England
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Krishnapatnam Port Company Ltd. - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Madhucon Powers Ltd - India
- International Coal Ventures Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Videocon Industries ltd - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Merrill Lynch Commodities Europe
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
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