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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, 27 March 15
INDONESIA: NEW REGULATION REQUIRES LETTER OF CREDIT FOR EXPORT OF PRODUCTS FROM NATURAL RESOURCES
The Minister of Trade issued Ministerial Regulation No. 04/M-DAG/PER/1/2015 (“Regulation No. 4/2015”) on 5 January 2015. Regulati ...
Friday, 27 March 15
WEEKLY U.S COAL OUTPUT FALLS 1.7% W-W; 7.9% Y-Y
COALspot.com – United States the world's one of the largest coal producers, produced approximately totaled an estimated 18.2 million ...
Thursday, 26 March 15
CHINA IRON ORE IMPORT FOR THE FIRST 2 MONTHS DECLINED BY 1.2 % Y-O-Y; PANAMAX AUSSIE/CHINA ROUNDS BEING FIXED IN THE $4 -5K RANGE - FEARNLEYS
Handy
There has been more activity in both hemispheres this week. Especially the USG market has picked up with more cargoes for prompter dates en ...
Thursday, 26 March 15
RATES FOR THE SMALLER SIZE SEGMENT CONTINUED TO IMPROVE LAST WEEK - INTERMODAL
To see green across the board is a rare occurrence in the Dry Bulk market nowadays and while the upside in which last week closed off is not of the ...
Thursday, 26 March 15
KYUSHU ELECTRIC POWER OF JAPAN HAS JOINED GLOBALCOAL ONLINE COAL TRADING PLATFORM
globalCOAL® announced today that Kyushu Electric Power, one of Japan’s largest utility companies, has joined its online coal trading plat ...
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- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- PTC India Limited - India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Ind-Barath Power Infra Limited - India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
- Petrochimia International Co. Ltd.- Taiwan
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Borneo Indobara - Indonesia
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- Indika Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Minerals Council of Australia
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Posco Energy - South Korea
- CNBM International Corporation - China
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Carbofer General Trading SA - India
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Kobexindo Tractors - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- The University of Queensland
- IEA Clean Coal Centre - UK
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- ASAPP Information Group - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Edison Trading Spa - Italy
- Electricity Generating Authority of Thailand
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Sree Jayajothi Cements Limited - India
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- Ministry of Finance - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- ICICI Bank Limited - India
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