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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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Sunday, 08 March 15
FREIGHT RATES FROM INDONESIA TO INDIA IS TRENDING UP
COALspot.com: The freight market continued to see gains this week and all the indices were rose except for Cape index. The BDI was increased 4.62 p ...
Friday, 06 March 15
BALTIC DRY INDEX: IS THIS POWERFUL INDICATOR SIGNALING A GLOBAL RECESSION? - STREET AUTHORITY
Although memories of the Great Recession linger, a case can be made that better days lie ahead.
That’s because central banks around the ...
Friday, 06 March 15
U.S. WEEKLY COAL PRODUCTION ROSE 3.5% WEEK ON WEEK
COALspot.com – United States the world's one of the largest coal producers, produced approximately 17.1 million short tons (mmst) of coal ...
Thursday, 05 March 15
PANAMAX : THE ATLANTIC ROUND IS NOW PAYING AROUND US$ 5K PER DAY
COALspot.com: Handy - The activity in the handy/supra segment is back. “ We see more fresh cargo in the market for 2nd half March dates ...
Thursday, 05 March 15
INDIA WILL BE THE LARGEST DRIVER OF GLOBAL SEABORNE COKING COAL DEMAND GROWTH IN 2015 - WOOD MACKENZIE
Global demand growth will remain weak because of China’s negative demand growth.
COALspot.com: At Coaltrans India, Wood Mackenzie says I ...
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- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Gujarat Mineral Development Corp Ltd - India
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- Sindya Power Generating Company Private Ltd
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Thai Mozambique Logistica
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Wilmar Investment Holdings
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- Savvy Resources Ltd - HongKong
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Goldman Sachs - Singapore
- The University of Queensland
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Siam City Cement - Thailand
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Aditya Birla Group - India
- Tamil Nadu electricity Board
- Meralco Power Generation, Philippines
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Heidelberg Cement - Germany
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Electricity Authority, New Zealand
- PNOC Exploration Corporation - Philippines
- SMG Consultants - Indonesia
- Independent Power Producers Association of India
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
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