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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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Tuesday, 03 November 15
API 5 FOB NEWCASTLE COAL SWAPS DECLINE CONTINUES
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery slid $1.84 per ton (4.34%) month over month to US$ 40.54 per ton. The swap ...
Tuesday, 03 November 15
EU OIL MAJORS FACE FURTHER EARNINGS DECLINE IN Q415 - FITCH RATINGS
The sharp drop in major European oil companies' third-quarter profits is likely to be extended in the fourth quarter as refining margins, which ...
Monday, 02 November 15
DESPITE CHALLENGING MARKET CONDITIONS, ADARO LOWERS COSTS, DEBT AND DELIVERS STRONG FREE CASH FLOW
COALspot.com: Despite challenging market conditions, Adaro lowers costs, lowers debt and delivers strong free cash flow.
The Indonesia’s ...
Monday, 02 November 15
CFR SOUTH CHINA COAL SWAPS CLOSED ON A WEAK NOTE
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.81(3.71 %) per ton month over month.
A commodity swap ...
Sunday, 01 November 15
THE FREIGHT MARKET SENTIMENT REMAINS WEAK
This week’s freight market sentiment remains weak compared to last week.
The Baltic Dry Index (BDI), an economic indicator issued daily ...
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- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Madhucon Powers Ltd - India
- Gujarat Electricity Regulatory Commission - India
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Edison Trading Spa - Italy
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Borneo Indobara - Indonesia
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Global Green Power PLC Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement PLC, Thailand
- Agrawal Coal Company - India
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Port Waratah Coal Services - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Savvy Resources Ltd - HongKong
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Thiess Contractors Indonesia
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Indonesian Coal Mining Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- India Bulls Power Limited - India
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Australian Coal Association
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
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