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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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Tuesday, 24 March 15
RICHARDS BAY COAL SWAP FOR DELIVERY Q2 CLOSED $ 1.87 HIGHER COMPARED TO Q3 CLOSING PRICE
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and week on week.
The Q2 swap has dropped U ...
Tuesday, 24 March 15
ARGUS MEDITERRANEAN SOLID FUELS 2015 CONFERENCE | 2-3 JUNE, ISTANBUL
Press Release: Argus Media is proud to announce Argus Mediterranean Solid Fuels, which will be held in Istanbul,on 2-3February.
Argus produces ...
Monday, 23 March 15
IS OIL GETTING READY TO PLUNGE BELOW $40? - FORBES
KNOWLEDGE TO ELEVATE
In my last crude oil market update in late-February, I expressed my skepticism toward the oil price rebound. Since then, ...
Monday, 23 March 15
Q4' 2015 FOB NEWCASTLE COAL SWAPS DECLINED 6.79% M-O-M; 2.55% W-O-W
COALspot.com: API 5 FOB Newcastle Coal swap for Q2’ 2015 delivery declined US$ 3.42 per MT (-6.33%) month over month and US$ 1.37 (-2.77%) we ...
Monday, 23 March 15
CFR SOUTH CHINA COAL SWAP: Q3 DELIVERY HAS FALLEN 7.93% MONTH-ON-MONTH
COALspot.com: API 8 CFR South China Coal swap for Q2’ 2015 delivery declined US$ 4.09 (-7.06%) per MT month over month and US$ 2.00 (-3 ...
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- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Straits Asia Resources Limited - Singapore
- Bhushan Steel Limited - India
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Vedanta Resources Plc - India
- Makarim & Taira - Indonesia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Rashtriya Ispat Nigam Limited - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Orica Mining Services - Indonesia
- The University of Queensland
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Bhatia International Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Planning Commission, India
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Bangladesh Power Developement Board
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- London Commodity Brokers - England
- ASAPP Information Group - India
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- SN Aboitiz Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
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