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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, 17 March 15
GAS TO CHALLENGE COAL IN THE ASIAN POWER GENERATION MIX - WOOD MACKENZIE
KNOWLEDGE TO ELEVATE
Wood Mackenzie says that coal is facing increasing competition from gas in the power sector. Coal has dominated as the fu ...
Tuesday, 17 March 15
RIO TINTO PAID US$ 7.1 BILLION IN TAXES IN 2014
COALspot.com: Rio Tinto has published its latest Taxes paid report, detailing the US$7.1 billion in taxes paid by the company around the world in 2 ...
Tuesday, 17 March 15
NEARLY 17% OF US COAL PRODUCTION UNECONOMIC AT CURRENT MARKET PRICING - WOOD MACKENZIE
COALspot.com: Close to 17% of forecast 2015 US coal production is at risk of idling or closure, totalling 162 million short tons (Mst), as these mi ...
Tuesday, 17 March 15
Q3' SA COAL SWAP CLOSED $57.30 PMT W/E 13 MARCH
COALspot.com: API 4 FOB Richards Bay Coal swap for delivery Q2' 2015 declined month over month and gained week on week.
The Q2 swap has fe ...
Monday, 16 March 15
MAKING THE WORLD GO ROUND - SEABORNE TRADE! - CLARKSONS
Money, or even love if you prefer, are claimed to make the world go round. For the shipping world, however, it’s trade that sets things spinn ...
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- Semirara Mining Corp, Philippines
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Economic Council, Georgia
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Parry Sugars Refinery, India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement PLC, Thailand
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Kobexindo Tractors - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Iligan Light & Power Inc, Philippines
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Vijayanagar Sugar Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Standard Chartered Bank - UAE
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Latin American Coal - Colombia
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Essar Steel Hazira Ltd - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Banpu Public Company Limited - Thailand
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Agrawal Coal Company - India
- Ministry of Transport, Egypt
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- International Coal Ventures Pvt Ltd - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Semirara Mining and Power Corporation, Philippines
- Attock Cement Pakistan Limited
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