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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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Monday, 28 September 15
CAPESIZE FLEET INCREASES BY JUST 1 VESSEL DURING LAST 12 MONTHS, IN POSITIVE SIGN FOR DRY BULK SHIPPING MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
After a rather tumultuous period, the shipping industry and more particular the dry bulk market has started to adjust to the new realities of globa ...
Monday, 28 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP ROSE 2.73 PER CENT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery moved upward US$ 1.45 (3.04 %) per ton month over month.
A commodity ...
Sunday, 27 September 15
THE PANAMAX INDEX FELL 1.19 PCT WEEK OVER WEEK
COALspot.com: The BDI closed Friday (25/09/2015) at 943 points, down by 17 points compared to previous Friday closing (18/09/2015). The BDI wa ...
Friday, 25 September 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING SEPTEMBER 19 ROSE 2.5% PER CENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Wednesday, 23 September 15
CAPESIZE: SPOT RATES HAVE INCREASED MORE THAN 70 PER CENT DURING LAST WEEK
Dry Bulk owners, always look at September as the time that the market “signals” what lies ahead for the remainder of the year. The Chin ...
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- GMR Energy Limited - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Medco Energi Mining Internasional
- Asmin Koalindo Tuhup - Indonesia
- Coalindo Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Sree Jayajothi Cements Limited - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Goldman Sachs - Singapore
- Mjunction Services Limited - India
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Essar Steel Hazira Ltd - India
- IEA Clean Coal Centre - UK
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Jaiprakash Power Ventures ltd
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Power Finance Corporation Ltd., India
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Salva Resources Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Energy Link Ltd, New Zealand
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Gujarat Sidhee Cement - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Bhatia International Limited - India
- Jindal Steel & Power Ltd - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Africa Commodities Group - South Africa
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
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