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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, 05 March 15
BUKIT ASAM BOOKED US$ 1 BILLION REVENUE IN 2014
COALspot.com: Indonesian publicly listed and state owned coal miner PT. Bukit Asam, has announced that, the revenue of the company for the period J ...
Wednesday, 04 March 15
AN AGENDA FOR CHANGE - FITCH INDONESIA CONFERENCE
Fitch Indonesia Conference - 5 March 2015
Fitch Ratings will host its annual Indonesia conference on 5 March 2015.
The theme of this year ...
Wednesday, 04 March 15
KEEP CALM AND INVEST IN DRY - THEODORE NTALAKOS
Keep Calm and Carry On was originally a motivational poster, intended to raise the morale of the British public, produced by the British government ...
Tuesday, 03 March 15
INDONESIAN COAL EXPORT VOLUME TO DECLINE 50% BY 2019
COALspot.com: The Indonesian government is planning to reduce coal export volume by 50% within the next five years while keeping its coal productio ...
Tuesday, 03 March 15
INDIAN THERMAL COAL IMPORTS: STEAMING FORWARD - CLARKSONS
Coal-fired power stations comprise around 60% of India’s power output, and with domestic supply issues and favourable international coal pric ...
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- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- SMG Consultants - Indonesia
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Carbofer General Trading SA - India
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kumho Petrochemical, South Korea
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining Corp, Philippines
- Coal and Oil Company - UAE
- Planning Commission, India
- The University of Queensland
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Videocon Industries ltd - India
- Economic Council, Georgia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Renaissance Capital - South Africa
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Pendopo Energi Batubara - Indonesia
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- OPG Power Generation Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- Central Electricity Authority - India
- Ambuja Cements Ltd - India
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Intertek Mineral Services - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- VISA Power Limited - India
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Eastern Coal Council - USA
- Romanian Commodities Exchange
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Sidhee Cement - India
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Aditya Birla Group - India
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