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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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Tuesday, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- Jorong Barutama Greston.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Grasim Industreis Ltd - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sinarmas Energy and Mining - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Petron Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Central Electricity Authority - India
- Alfred C Toepfer International GmbH - Germany
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Metalloyd Limited - United Kingdom
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- VISA Power Limited - India
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Aboitiz Power Corporation - Philippines
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Australia Pty. Ltd.
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Altura Mining Limited, Indonesia
- Deloitte Consulting - India
- Jaiprakash Power Ventures ltd
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Dalmia Cement Bharat India
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Anglo American - United Kingdom
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Indian Oil Corporation Limited
- White Energy Company Limited
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Sree Jayajothi Cements Limited - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Planning Commission, India
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Economic Council, Georgia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Posco Energy - South Korea
- Minerals Council of Australia
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Banpu Public Company Limited - Thailand
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Australian Commodity Traders Exchange
- Central Java Power - Indonesia
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
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