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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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Sunday, 25 October 15
ANOTHER DISAPPOINTING WEEK FOR PANAMAX; INDEX FELL 5.4 PERCENT W-W
COALspot.com: The BDI was slightly up by 2.65 pct closing at 774 points mainly because of Cape index which was up by 10.85 pct closing at 1461 poin ...
Sunday, 25 October 15
DRY BULK SHIP OWNERS ARE LOOKING TO CHINA'S POLICIES FOR CUES ON FUTURE MARKET DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
China’s hard or softer landing is a thing which has troubled dry bulk shipping for a couple of years now, as owners have been hit by the coun ...
Friday, 23 October 15
WILL INDIAN DOMESTIC COAL PRICES BE ABLE TO COMPETE IMPORTED COAL PRICES IF THE CURRENT TREND CONTINUES?
COALspot.com: The Most of the Indian end-users are waiting for last minute purchase to enjoy every drop in price. Coal procurement managers are als ...
Friday, 23 October 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING OCTOBER 17 DECLINED FOR THE SECOND STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 16.6 million shor ...
Wednesday, 21 October 15
RUSSIA'S CARBO ONE COAL SALES TO HIT 50 MLN T/YR - JACQUELINE HOLMES
COALspot.com: Russia's Carbo One has become one of the world's leading physical coal traders with an annual volume approaching 50 million t ...
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- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Bukit Makmur.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- Central Electricity Authority - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Aditya Birla Group - India
- Mercator Lines Limited - India
- The University of Queensland
- Malabar Cements Ltd - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Sical Logistics Limited - India
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- PTC India Limited - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Ministry of Mines - Canada
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Coal and Oil Company - UAE
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- PowerSource Philippines DevCo
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Riau Bara Harum - Indonesia
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- McConnell Dowell - Australia
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Toyota Tsusho Corporation, Japan
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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