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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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Monday, 30 March 15
Q3' 15 CFR SOUTH CHINA COAL SWAP: DECLINED 8.7% M-M; 12.77% Y-TO-D
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 5.00 (-8.70%) per MT month over month and US$ 1.33 (-2 ...
Monday, 30 March 15
Q2' FOB NEWCASTLE COAL SWAP CLOSED 4.47% HIGHER THAN Q4' CLOSING PRICE
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 5.42 per MT (-10.43%) month over month and US$ 1.60 (-3.32%) w ...
Sunday, 29 March 15
INDO - INDIA: SUPRAMAX & PANAMAX FREIGHT MARKET STEADY
COALspot.com: The freight market was almost stable as all segments slightly up except Panamax sector.
The BDI was up by just 0.85% week over w ...
Saturday, 28 March 15
IS NORTHERN EUROPE THE NEW MINING ELDORADO?
The Europe Mining 2015 Summit, organised by Global Summits organizer IRN on 17-18 June in Amsterdam, The Netherlands, will gather senior level repr ...
Saturday, 28 March 15
THE DRY BULK FLEET AT BREAKING POINT - CLARKSONS
The severe oversupply in the bulkcarrier fleet has contributed to the current trough in the dry bulk market, putting considerable financial pressur ...
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- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Electricity Generating Authority of Thailand
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- The University of Queensland
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- White Energy Company Limited
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Mintek Dendrill Indonesia
- Star Paper Mills Limited - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Borneo Indobara - Indonesia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Planning Commission, India
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- PTC India Limited - India
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- Cigading International Bulk Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Agrawal Coal Company - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Parliament of New Zealand
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Maheswari Brothers Coal Limited - India
- Standard Chartered Bank - UAE
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Australian Coal Association
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
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