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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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Thursday, 19 March 15
INDONESIAN COAL BENCHMARK SOAR 7.69% IN MARCH....!!!
COALspot.com - The Ministry of Energy & Mineral Resources of Indonesia revised up Indonesian coal benchmark prices to US$ 67.76 per MT in March ...
Wednesday, 18 March 15
AVERAGE RATE FOR CAPES MOVED TO BELOW $ 4K/DAY LAST WEEK - INTERMODAL
COALspot.com: The even heavier losses noted in the Capesize segment last week, denied the Dry Bulk market a third weekly positive, while the smalle ...
Wednesday, 18 March 15
PARKING THE CAPES - LINOS KOGEVINAS
It is no secret that recent times have been anything but kind towards shipping, and no sector has suffered more lately than the dry bulk one. While ...
Wednesday, 18 March 15
CHINA-OWNED SHIPS: A RAPID RISE TO BECOME ONE OF THE WORLD'S LARGEST FLEETS - RICHARD SCOTT
Ships operated by owners based in China have become increasingly prominent on the world’s sea routes. China-owned container ships, bulk carri ...
Wednesday, 18 March 15
Q2 INDONESIAN COAL SWAP DROP 1.45% M-O-M; GAIN 0.63% W-O-W
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and gained week over week.
The Q2 swap fell US$ 0.70 (1.45%) ...
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- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Transport, Egypt
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Australian Coal Association
- SMG Consultants - Indonesia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Eastern Energy - Thailand
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- SN Aboitiz Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Edison Trading Spa - Italy
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Cement Manufacturers Association - India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Attock Cement Pakistan Limited
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Samtan Co., Ltd - South Korea
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Antam Resourcindo - Indonesia
- Baramulti Group, Indonesia
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Thai Mozambique Logistica
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
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