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Thursday, 29 October 15
IRAN'S RETURN TO OIL MARKETS WILL HAVE TEMPERED IMPACT FOR THE TANKER SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While many analysts appear to be fearful of a potential incremental rise in tanker ships’ supply, as a result of the imminent return of Iran in the global oil market, things might not necessarily pan out this way. As the world is gradually getting used to the idea that Iranian sanctions will be lifted, over the past few months further progress has been made in terms of legislation. According to the latest weekly report from shipbroker Gibson, “firstly, the US Congress failed to block the Iran nuclear deal reached in summer 2015. Secondly, the same deal has been approved by the Iranian parliament. The latest news is that on the 18th of October US authorities approved conditional sanctions waivers for Iran (known as Adoption Day). These waivers will only take effect after Iran complies with its commitments and this is verified by the IAEA (Implementation Day)”.
However, the question of how quickly will this happen, needs to be answered. According to Gibson, as per “several senior US officials, the Implementation Day is at the very least two months away; while most industry experts are of opinion that this is unlikely to happen before the first quarter of next year. If and when Iranian sanctions are lifted, it will have important implications for global oil markets. As it is, the world is awash with crude, following OPEC’s policy to defend its market share. At the same time, US crude oil production is not falling fast enough to balance supply and demand, despite prices remaining low. Finally, concerns are intensifying about the health of world economy, leading to lower expectations for global oil demand growth next year. In these circumstances, if Iran is able to rapidly increase its production and exports, this will only add more crude to an already heavily oversupplied market”.
The shipbroker added that “undoubtedly, this year the overhang of crude oil has fuelled tanker markets not only in terms of supporting trade, but also leading to additional storage requirements and loading/discharge delays. As such, any increase in Iranian exports will at the very least elevate these inefficiencies in tanker transportation, supporting tight supply/demand balance. However, there are also concerns about the Iranian fleet, which will become internationally operational and is likely to compete aggressively in the conventional tanker market when sanctions are lifted”.
According to Gibson, “as of now, 37 VLCCs, 9 Suezmaxes and 5 Aframaxes are under control of the National Iranian Tanker Company (NITC). However, about half of the fleet is already employed, largely shipping Iranian crude to a limited number of international buyers (although there is some scope here for efficiency gains, such as faster speeds and reduced waiting time). The rest of the NITC fleet is used for crude/condensate storage, with the latest count at 20 units under the NITC control and 5 by other owners. If the nuclear dispute is resolved, a number of VLCCs used for storage, will continue doing so for operational/marketing reasons as was the case prior to sanctions”.
The shipbroker also noted that “as such, essentially only those tankers which will be released from storage duties will be in position to provide an incremental boost to tanker supply. It could take some time for these ships to meet international standards in terms of class and insurance. Furthermore, many units are likely to require dry docking. On this basis, the process of “re-entry” will be gradual. Finally, if Iran succeeds in rapidly increasing its production and in significant volumes, this would provide additional demand for the NITC fleet, limiting further the threat of competition to the international tanker supply”, Gibson concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Wednesday, 11 November 15
Q3' 16 RICHARDS BAY COAL SWAP LOST 15.47% SINCE 6 AUGUST; 18.65% SINCE 6 MAY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 declined week over week and month over month.
The Q1’ 2016 &nb ...
Wednesday, 11 November 15
VESSEL VALUES ARE DOWN BY AT LEAST 20% SINCE MID-AUGUST - INTERMODAL
I had promised not to spend another broker’s insight focusing on the dry bulk side. However, the sale of the M/V Churchill Bulker (179,362 dw ...
Tuesday, 10 November 15
SELF-HEATING OF COAL HAS EMPHASISED THE IMPORTANCE OF CHECKING THE ACCURACY OF SHIPPER'S DECLARATIONS - GARD
Recent incidents involving self-heating of coal has emphasised the importance of checking the accuracy of shipper’s declarations for all type ...
Tuesday, 10 November 15
API 5 FOB NEWCASTLE COAL SWAP SLIDES CONTINUE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.55 per ton (8.50%) month over month to US$ 38.20 per ton. The swap ...
Monday, 09 November 15
BUNKER PRICES TO KEEP SLIDING THIS WEEK, EXPERT SAYS - MARINE BUNKER EXCHANGE
The oil price volatility has continued this week. Two dollars up one day and the next day two dollars down. The oil market has been trading on the ...
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- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Ministry of Transport, Egypt
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Jorong Barutama Greston.PT - Indonesia
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- CIMB Investment Bank - Malaysia
- IEA Clean Coal Centre - UK
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- PNOC Exploration Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Global Green Power PLC Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- European Bulk Services B.V. - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Aditya Birla Group - India
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Indo Tambangraya Megah - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- SN Aboitiz Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Xindia Steels Limited - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Deloitte Consulting - India
- Australian Commodity Traders Exchange
- OPG Power Generation Pvt Ltd - India
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Mining Services - Indonesia
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Bayan Resources Tbk. - Indonesia
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
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