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Wednesday, 27 June 18
SHIPPING MARKET INSIGHT - APOSTOLOS ROMPOPOULOS
 After the abolishment of the trade embargo against Iran, there was a lot of optimism from the country’s side, as after quite some time a number of companies started demonstrating interest for oil and gas investments there.
The start was rather encouraging as in January 2016, with production increasing from 2.8 million barrels per day to 3.5 million barrels per day, reaching 3.83 million barrels per day in August 2017. High field pressure was temporary and production was not maintained at high levels.
Additionally, it is worth mentioning that crude oil exports increased from 2.5 million barrels per day in October 2016 to 2.61 million barrels per day in April 2018. This however was caused due to stored oil and not from new production, which would have been the ideal case.
During the 2010-2016 period, there were already many oil fields that had started entering the maturity phase and could not maintain satisfactory pressure to pump oil. So when the sanctions were first introduced, things became even tighter for the country. NIOC could not find a way to maintain fields at a solid productive capacity. Together with the fact that the oil revenue was declining, NIOC was eventually obligated to shutter oil wells in multiple fields due to lack of required funding.
What I would like to highlight here is that even before Trump’s sanctions, Iran found it difficult to approach foreign investors and companies to work together with NIOC.
What Iran really required once the sanctions were lifted was foreign investment and foreign expertise to revamp its oil and gas production infrastructure. As a means of enticing foreign companies to invest and work in Iran, the country’s Oil Minister, Bijan Namdar Zangeneh, sought to offer new oil contracts with more lucrative terms compared to those prior to the sanctions. Nevertheless, those new contracts never materialized.
Post Trump’s sanctions
When the new sanctions arrived in May 2018, Total, the only foreign oil company that had actively pursued investment in Iran, announced that it would drop the project on the South Pars 11 gas field.
In contrast to the above, we noticed a rare export from Khrag island to Chile after 16 years according to refineries’ records; (MT “MONTE TOLEDO” 140 NHC 24 MAY KHARG/CHILE).
Spain's Repsol purchased 500,000 barrels of Pars Oil on a spot basis. Pars Oil, co-loaded with Iranian heavy grade is a new grade produced in the West Karoun block. This specific trade shows Tehran’s willingness not only to raise oil exports but also to expand trade with Europeans.
To conclude, Iran is expected to focus on the improvement of its oil production as well as continue seeking new business allies in order to survive the newly introduced sanctions form the U.S. At the same time European powers are also expected to keep supporting Iranian oil exports and continue purchasing Iranian crude, simply because they wish to keep the nuclear accord with Tehran alive.
By Apostolos Rompopoulos
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Thursday, 26 January 23
AUSTRALIA'S CORONADO GLOBAL SEES COAL PRICES RISING ON RESUMING CHINA IMPORTS - REUTERS
Australia’s Coronado Global Resources said on Tuesday resuming metallurgical coal imports to China would likely push sea-borne coal prices hi ...
Monday, 23 January 23
CHINA'S MAJOR COAL-PRODUCING PROVINCE ACCELERATES DIGITAL TRANSFORMATION - XINHUA
At Chindata Group’s big-data industrial park in Lingqiu County of Datong City, hundreds of thousands of servers are running round-the-clock t ...
Monday, 23 January 23
CHINA'S COAL-RICH PROVINCE SEES COAL PRODUCTION INCREASE IN 2022 - XINHUA
North China’s coal-rich province of Shanxi saw its coal production hit 1.31 billion tonnes in 2022, up 8.7 percent year on year, local author ...
Wednesday, 18 January 23
MARKET INSIGHT - INTERMODAL
From Feb 5, another price cap will be introduced to Russian fuels and oil products, adding to the one for crude oil, already in place from Dec. 3. ...
Tuesday, 17 January 23
FRAUD IS THE BIGGEST THREAT TO CARGO LOSSES - TT CLUB
The almost exclusive use of online facilities to process business transactions allows a myriad of fraudulent pursuits to find opportunities within ...
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- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Deloitte Consulting - India
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- San Jose City I Power Corp, Philippines
- Trasteel International SA, Italy
- Xindia Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- White Energy Company Limited
- Edison Trading Spa - Italy
- Dalmia Cement Bharat India
- Kohat Cement Company Ltd. - Pakistan
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- Bayan Resources Tbk. - Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Medco Energi Mining Internasional
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Bhushan Steel Limited - India
- Sical Logistics Limited - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- Kobexindo Tractors - Indoneisa
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- GVK Power & Infra Limited - India
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Billiton Holdings Pty Ltd - Australia
- Agrawal Coal Company - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- South Luzon Thermal Energy Corporation
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Sojitz Corporation - Japan
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- CIMB Investment Bank - Malaysia
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Cement Manufacturers Association - India
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
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