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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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Monday, 09 November 15
CFR SOUTH CHINA THERMAL COAL SWAP FOR Q3' 16 CONTRACT DECLINED US$ 4 PER TON
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 4.35 (9.03 %) per ton month over month.
A commodity swa ...
Monday, 09 November 15
INDIAN THERMAL COAL IMPORTS SURGED 18%; COKING COAL 6.31% DURING APRIL-OCTOBER: BUSINESS-STANDARD
Indian thermal coal imports surged 18% at the country's top 12 major ports to 55.90 million tonnes (MT) in the first seven months of the curren ...
Sunday, 08 November 15
THE FREIGHT MARKET KEEP DROPPING THIS WEEK - VISTAAR
COALspot.com: The freight market keep dropping this week.
The BDI down 12.48 percent week on week and closed at 631 points on 6 November 2015. ...
Sunday, 08 November 15
CAPESIZE FREIGHT RATES IN AUSTRALIA-CHINA ROUTES OVER 50% CHEAPER THAN BRAZIL-CHINA ROUTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China’s mining and steel industries are facing tectonic shifts over the past couple of years, with the country’s limiting of coal use, ...
Friday, 06 November 15
COAL PRODUCTION IN THE U.S. FELL SHARPLY FOR THE WEEK ENDING OCTOBER 31
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.6 million shor ...
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- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Planning Commission, India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Parliament of New Zealand
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- VISA Power Limited - India
- ASAPP Information Group - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Economic Council, Georgia
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Energy Link Ltd, New Zealand
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Electricity Authority, New Zealand
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Siam City Cement - Thailand
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Bhoruka Overseas - Indonesia
- Star Paper Mills Limited - India
- OPG Power Generation Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Indika Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Vizag Seaport Private Limited - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
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