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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, 28 October 15
Q2'16 FOB RICHARDS BAY COAL SWAP SEES FURTHER DECLINES
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and declined month over month.
The Q4 swap was d ...
Wednesday, 28 October 15
BDI INCREASE TOOK PLACE SOLELY ON THE BACK OF CAPESIZE PERFORMANCE, BUT........ - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a small improvement which nonetheless failed to lift sentiment, not only because ...
Tuesday, 27 October 15
Q1'16 API 5 FOB NEWCASTLE COAL SWAP DECLINE 6 PER CENT M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $2 per ton (4.66%) month over month to US$ 40.93 per ton. The swa ...
Monday, 26 October 15
PORT OF NEWCASTLE SHIPPED 10.5 PER CENT LESS COAL IN SEPTEMBER, COMPARED TO AUGUST LOADING
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.161 billi ...
Monday, 26 October 15
CFR SOUTH CHINA COAL SWAPS CLOSE DOWN 4.3% AS DEMAND CONCERNS WEIGH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US$ 1.48 (3.02 %) per ton month over month.
A commodity sw ...
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- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- TeaM Sual Corporation - Philippines
- Eastern Energy - Thailand
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Wilmar Investment Holdings
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Coalindo Energy - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Sindya Power Generating Company Private Ltd
- Uttam Galva Steels Limited - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- LBH Netherlands Bv - Netherlands
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Minerals Council of Australia
- Ambuja Cements Ltd - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- PTC India Limited - India
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Economic Council, Georgia
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Aditya Birla Group - India
- Siam City Cement PLC, Thailand
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Aboitiz Power Corporation - Philippines
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Star Paper Mills Limited - India
- Timah Investasi Mineral - Indoneisa
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- Planning Commission, India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Mercuria Energy - Indonesia
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
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