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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, 05 July 18
INDONESIAN COAL PRICE REFERENCE HITS 74 MONTHS HIGH OF $104.65 A TON
COALspot.com: HBA keeps rising. According to latest ministerial decree No.1892 K/30/MEM/2018 dated 2 July 2018, the Indonesian Coal Price Reference ...
Wednesday, 04 July 18
TANKER MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
2 years tanker briefing in tanker asset prices
The tanker market is undoubtedly passing one of its’ roughest times over the la ...
Tuesday, 03 July 18
COAL, THE SECOND MAIN COMMODITY FOR CAPES, HAS BEEN SHOWING A REMARKABLE RISE IN TRADE VOLUMES IN THE YEAR SO FAR - THOMAS CHASAPIS
Having reached the mid-point in the year, it seems to be a good time to summarize the overall trends noted in the Dry Bulk sector and more specific ...
Tuesday, 03 July 18
SUPRAMAX: A 56,000-DWT WAS FIXED BASIS DELIVERY SINGAPORE TRIP VIA INDONESIA, REDELIVERY CHINA, AT $12,100 - BALTIC BRIEFING
Capesize
The market generally drifted and by mid-week dropped to what some felt was an artificially low level, only to bounce back at the end o ...
Tuesday, 03 July 18
COAL OVERTAKES IRON ORE IN GOVERNMENT FORECASTS AS AUSTRALIA'S LARGEST EXPORT FOR 2018-19 - MINERALS COUNCIL OF AUSTRALIA
Coal is forecast to be Australia’s largest export earner at $58.1 billion in 2018-19 with iron ore exports forecast to earn $57.7 billion in ...
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- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Miang Besar Coal Terminal - Indonesia
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- Interocean Group of Companies - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Commonwealth Bank - Australia
- Africa Commodities Group - South Africa
- Minerals Council of Australia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- PTC India Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- PNOC Exploration Corporation - Philippines
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Lanco Infratech Ltd - India
- Essar Steel Hazira Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Therma Luzon, Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Deloitte Consulting - India
- Planning Commission, India
- Star Paper Mills Limited - India
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- Ambuja Cements Ltd - India
- Australian Coal Association
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Global Green Power PLC Corporation, Philippines
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Indian Oil Corporation Limited
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- Borneo Indobara - Indonesia
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Tamil Nadu electricity Board
- Cement Manufacturers Association - India
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