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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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Friday, 18 May 18
INDONESIA'S SAMARINDA ANCHORAGE COAL LOADING ACTIVITIES WERE RESUMED YESTERDAY AT 4PM LOCAL TIME
Samarinda Anchorage coal loading activities were resumed yesterday at 4PM local time.
Local fishermen in Samarinda Anchorage have been demonst ...
Wednesday, 16 May 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Half-way through the second quarter of the year and as the Posidonia week approaches everyone is getting ready for this unique gathering that besid ...
Thursday, 10 May 18
PRIVATE POWER PRODUCERS NEED A 'POWERFUL PUSH' - PRADEEP MITTAL
- PLF of the Private Sector in the country (Coal and Lignite based) for FY 2017-18 (till Dec 2017) is 56%.
- 51 GW of stressed assets (Thermal &a ...
Tuesday, 08 May 18
BUMA SIGNED OVER US$1 BILLION WORTH OF NEW CONTRACT WITH PT INDONESIA PRATAMA
PT Delta Dunia Makmur Tbk. announced that its subsidiary, PT Bukit Makmur Mandiri Utama, has entered into mining services contracts with PT Indones ...
Monday, 07 May 18
BENCHMARK PRICE OF INDONESIAN THERMAL COAL DROPPED BACK BELOW $90 A TON THIS MONTH
COALspot.com: According to latest ministerial decree No. 1812 K/30/MEM/2018 dated 3 May 2018, the Indonesian Coal Price Reference (HBA) decline 5.5 ...
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- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- LBH Netherlands Bv - Netherlands
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Anglo American - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- VISA Power Limited - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maheswari Brothers Coal Limited - India
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- GMR Energy Limited - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Thai Mozambique Logistica
- Antam Resourcindo - Indonesia
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- White Energy Company Limited
- Kobexindo Tractors - Indoneisa
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Africa Commodities Group - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Indogreen Group - Indonesia
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