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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, 13 March 15
ADARO RECORDED A 7% INCREASE IN EBITDA OF $877 MILLION IN 2014
“Coal market continues to be difficult and challenging” – Adaro Energy
The world’s Top 5 thermal coal exporter, ...
Thursday, 12 March 15
CAPESIZE : ACTIVITY IS LOW; PANAMAX: BIT MORE ACTIVITY; HANDY: A FIRMING WEEK
Handy
It has been a firming week in both hemispheres this week and especially in the Pacific, says Fearnleys AS in its week's week report.
...
Thursday, 12 March 15
COAL MINERS REMAIN UNDER PRESSURE AS GLUT CONTINUES - THE JAKARTA POST
Indonesia’s major coal miners reported a significant drop in their earnings last year as the sharp drop in the global demand, mainly from Chi ...
Thursday, 12 March 15
FOB INDONESIA COAL SWAP DROP TO $47.33 A TON IN THE WEEK ENDED MAR.6
COALspot.com: Indonesian coal swaps for delivery Q2' 2015 drop month on month and week over week.
The Q2 swap fell US$ 0.37 (0.78%) month ...
Wednesday, 11 March 15
RICHARDS BAY COAL SWAPS DROP $ 3.65 - 4.0/T W-O-W
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 fell US$ ...
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- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Dalmia Cement Bharat India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Marubeni Corporation - India
- Minerals Council of Australia
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- New Zealand Coal & Carbon
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- San Jose City I Power Corp, Philippines
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- Directorate General of MIneral and Coal - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- Indian Energy Exchange, India
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Asmin Koalindo Tuhup - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Vedanta Resources Plc - India
- IHS Mccloskey Coal Group - USA
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Ind-Barath Power Infra Limited - India
- SMC Global Power, Philippines
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- PTC India Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Lanco Infratech Ltd - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Bharathi Cement Corporation - India
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
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