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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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Saturday, 04 April 15
BORYEONG POWER OF KOMIPO TO BUY TOTALED 695K MT OF HIGH AND LCV COAL
COALspot.com - Korea Midland Power Co. Ltd. (KOMIPO) is inviting bids from coal producers, marketing companies, or traders to supply of 500000 Metr ...
Friday, 03 April 15
U.S WEEKLY COAL PRODUCTION STAYS FLAT
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 18.3 million short ...
Friday, 03 April 15
TOBA BARA'S PANDU SJAHRIR ELECTED AS NEW CHAIRMAN OF THE INDONESIAN COAL MINING ASSOCIATION
COALspot.com: Pandu Sjahrir, the Vice President Director & CFO of the Jakarta-listed PT Toba Bara Sejahtra — a subsidiary of PT Toba Seja ...
Thursday, 02 April 15
GOVERNMENT MUST WORK WITH MINING, NOT AGAINST IT - PANDU SJAHRIR
The Coal Face: The coal price has hit its lowest point in recent memory
My father used to say to me that his children are his biggest inv ...
Thursday, 02 April 15
NEWBUILDING ORDERS FOR DRY BULK CARRIERS "DRY" UP
Newbuilding ordering activity remained subdued over the course of the past week, as ship owners are wary of adding further tonnage to an already pr ...
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- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Videocon Industries ltd - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Grasim Industreis Ltd - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Uttam Galva Steels Limited - India
- VISA Power Limited - India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Commonwealth Bank - Australia
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Ceylon Electricity Board - Sri Lanka
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bulk Trading Sa - Switzerland
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Planning Commission, India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- White Energy Company Limited
- Directorate General of MIneral and Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- Formosa Plastics Group - Taiwan
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Mjunction Services Limited - India
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Coal and Oil Company - UAE
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Eastern Energy - Thailand
- CNBM International Corporation - China
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Ambuja Cements Ltd - India
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
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