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Wednesday, 05 August 15
SHIPPING MARKET INSIGHT - KATERINA RESTIS
 On July 14th, 2015 a historical consensus was reached in Vienna between Iran and the five permanent members of the U.N. Security Council, plus Germany (P5+1), to eliminate Tehran’s nuclear program in return for lifting international oil and financial sanctions. The US-Iran deal is the most important breakthrough in their bilateral relationship since 1979, when the Iranian revolution disturbed their relations. In particular, Iran has agreed not to produce any plutonium enriched weapons and additional heavy water reactors for 15 years. The assurance that Iran is satisfying the deal’s commitments will be granted through an extensive UN inspection and observation under the International Atomic Energy Agency (IAEA). It is discussed that assessments and transparency measures may remain in place for as long as 25 years. Expressly, President Obama stated that “this relief will be phased in. Iran must complete key nuclear steps before it begins to receive sanctions relief.”
The markets are already looking towards the challenges, options and prospects that will emerge with the deal being signed. Notably, oil prices fell due to investors’ expectations of an increase in oil exports from Iran to an already oversupplied market. It is estimated that Iran could supply an extra 200k-400k bpd of crude in 2016 on top of a release of 20-40 million barrels from floating storage. The NIOC Managing Director states that if there is enough demand, it is estimated that production could increase by 500k-600k bpd reaching its pre-sanctions level of 4 million bpd within 6 to 12 months. Furthermore, China’s economy is witnessing a growth slow down, while global oil production is close to record highs and thus traders weigh the risk of oil prices possibly falling further.
Furthermore, the agreement will gradually benefit companies that transport Iranian Oil. Once the EU ban on insuring tankers carrying Iranian crude is lifted, imports to countries such as India and Turkey will be comforted and will promote the purchase of contracted volumes. Iran has traditionally been India’s second-largest supplier of crude oil and the prospect of lifting sanctions will also facilitate Pakistan to complete the Iran-Pakistan pipeline. Moreover, it would again be legal for P&I insurance clubs and companies that cover shipowners for several risks to insure Iranian oil cargoes.
Likewise, it is estimated that lifting petrochemical sanctions will permit $1 billion in exports for Iran. The increase in Iranian supplies of oil and gas would trickle down to Europe’s chemical industry, creating a potential game changer for energy-intensive businesses. A traditional player is coming back into the market and preeminently needs to sell, therefore chemical plants of Europe will definitely benefit. Energy companies from Royal Dutch Shell to BP commented after the deal was signed that they were examining their options in a post-sanctions Iran, where production and export potential could expand with the appropriate investment strategies.
Decades of sanctions have inevitably affected the local population and Iranian political setup. With the prospect of sanctions being lifted, Iran’s economic potential will allow for numerous opportunities not only for Iran but also for the wider region, which will directly translate into an increased influence in the Middle East. More importantly, the deal will have some prompt and long-term influence both on global and regional level. The deal will bring out Iran from international isolation. Nevertheless, Iran will have to wait for almost a year to yield the financial returns of the deal, while the six major world powers will most probably reap the benefits of the lower cost of oil immediately.
By Katerina Restis
Tanker Chartering
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 re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Thursday, 01 October 15
SOUTH KOREA'S KOMIPO SEEKS SPOT BITUMINOUS COAL SUPPLIES
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 265,000 Metric Tons (MT) of minimum 4,600 kcal ...
Wednesday, 30 September 15
Q1'16 FOB INDONESIA COAL SWAP FALLS $1.25 A TON AS SLIDE CONTINUES
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 0.72 (-1.78%) per t ...
Wednesday, 30 September 15
NEW BUILDING MARKET INSIGHT
COALspot.com: This year has been, beyond any doubt, a rather strenuous one for the newbuilding market. Ordering activity with regards to Dry Bulker ...
Tuesday, 29 September 15
FOB RICHARDS BAY COAL SWAPS ARE SLIDING
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
Monday, 28 September 15
API 5 FOB NEWCASTLE COAL SWAPS UP $2.15 IN ONE MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery increased $2.10 per ton (5.15%) month over month to US$ 42.93 per ton. The ...
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- VISA Power Limited - India
- Mjunction Services Limited - India
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Formosa Plastics Group - Taiwan
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Sakthi Sugars Limited - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Kepco SPC Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Bhushan Steel Limited - India
- CNBM International Corporation - China
- Anglo American - United Kingdom
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- Savvy Resources Ltd - HongKong
- San Jose City I Power Corp, Philippines
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- GVK Power & Infra Limited - India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Carbofer General Trading SA - India
- Kapuas Tunggal Persada - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Coal and Oil Company - UAE
- Romanian Commodities Exchange
- Mintek Dendrill Indonesia
- Australian Coal Association
- Vizag Seaport Private Limited - India
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