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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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- Ministry of Transport, Egypt
- Commonwealth Bank - Australia
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Mines - Canada
- Romanian Commodities Exchange
- Mercuria Energy - Indonesia
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Kartika Selabumi Mining - Indonesia
- Ministry of Finance - Indonesia
- Australian Coal Association
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- MS Steel International - UAE
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Parliament of New Zealand
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- Heidelberg Cement - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- VISA Power Limited - India
- Siam City Cement - Thailand
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Asmin Koalindo Tuhup - Indonesia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Indian Oil Corporation Limited
- The University of Queensland
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Larsen & Toubro Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Agrawal Coal Company - India
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
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