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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, 16 April 15
INDIA: COAL IMPORTS RISE BY 33 PC TO 240 MT IN FY'15 - PTI
India’s coal imports in the just concluded FY 2015 increased by 33 per cent to about 240 million tonnes.
“Coal import have gone up ...
Thursday, 16 April 15
CAPESIZE: THE SUPPLY AND DEMAND SIDE ARE NOW SUFFERING HEAVILY - FEARNLEYS
Handy
It seems to be some standoff between owners and charterers in both hemispheres this week. Owners are raising their rates while charterers a ...
Thursday, 16 April 15
Q3 FOB RICHARDS BAY COAL SWAP CLOSED AT $ 55.67 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month.
The Q2 swap has declined US$ 1.90 (3.17%) m ...
Wednesday, 15 April 15
PORT OF NEWCASTLE SHIPPED 13.63 MMT OF COAL IN MARCH; UP 4.41% M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.227 billi ...
Tuesday, 14 April 15
COAL OUTPUT FALLS AS PRICES CONTINUE TO LAG - JP
Coal output dropped by 21 percent in the first three months of the year as low prices for the commodity forced mining companies to reduce activitie ...
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- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Maheswari Brothers Coal Limited - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Renaissance Capital - South Africa
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Planning Commission, India
- Marubeni Corporation - India
- Aditya Birla Group - India
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Dalmia Cement Bharat India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Indian Oil Corporation Limited
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Riau Bara Harum - Indonesia
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Edison Trading Spa - Italy
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- IEA Clean Coal Centre - UK
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
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