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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, 10 April 15
DRY BULK MARKET'S DOWNFALL ALSO OFFER INVESTMENT BARGAINS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk market rates have fallen to historical lows over the past few weeks, with no clear path of recovery, at least in the near term. As such, m ...
Thursday, 09 April 15
CAPESIZE: RATES ARE STILL DISAPPOINTING - FEARNLEYS
Handy
The handy market had a stronger sentiment before the Easter holidays, but have as the bigger panamaxes seen a softening tendency this week. ...
Wednesday, 08 April 15
DRY BULK MARKET SEEMS UNABLE TO CATCH A BREAK - INTERMODAL
COALspot.com: The Dry Bulk market seems unable to catch a break these days.
According to Intermodal, following the market stabilization that p ...
Wednesday, 08 April 15
CHINA BURNS HALF OF THE WORLD'S COAL - CHRISTOPHER T. WHITTY
Intermodal Weekly Market Update
China is the world's largest consumer of coal, using more coal each year than the United States, the Europ ...
Tuesday, 07 April 15
SUB-BIT FOB INDONESIA COAL SWAP KEEPS DROPPING; DROPPED 2% W-W
COALspot.com: Indonesian coal swap for delivery Q2 2015 declined month on month and week over week.
The Q2 swap was declined US$ 2.44 (5.14%) ...
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- Bhushan Steel Limited - India
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Latin American Coal - Colombia
- Meralco Power Generation, Philippines
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Eastern Coal Council - USA
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Antam Resourcindo - Indonesia
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- White Energy Company Limited
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Attock Cement Pakistan Limited
- PTC India Limited - India
- The University of Queensland
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Chamber of Mines of South Africa
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Salva Resources Pvt Ltd - India
- Ministry of Transport, Egypt
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Directorate Of Revenue Intelligence - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- Economic Council, Georgia
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
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