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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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Wednesday, 23 September 15
INDONESIA: NEW REGULATION APPLIES FINAL INCOME TAX TO MINERAL AND COAL SALES - FLORENCE GRACIA SANTOSO
To increase state revenue from the mining sector, the Government of Indonesia has imposed a new final income tax on any sale of mineral and coal, a ...
Tuesday, 22 September 15
1Q16 FOB INDONESIA COAL SWAP DECLINED 6.49 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week.
The 4Q swap declined $ 2.29 (-5.42%) per t ...
Tuesday, 22 September 15
FOB RICHARDS BAY COAL SWAPS FALL CONTINUES
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined week over week and month over month.
The 4Q swap was down US$ ...
Monday, 21 September 15
Q4' 15 FOB NEWCASTLE COAL SWAP CLOSED HIGHER THAN Q2' 16 SWAP
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery increased $0.43 per ton (1.01%) month over month to US$ 42.95 per ton. The ...
Monday, 21 September 15
CFR SOUTH CHINA COAL SWAP GAINED WEEK OVER WEEK
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US$ 0.45 (0.90 %) per ton month over month.
A commodit ...
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- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Georgia Ports Authority, United States
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- PTC India Limited - India
- CNBM International Corporation - China
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- Xindia Steels Limited - India
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Economic Council, Georgia
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Parry Sugars Refinery, India
- Aditya Birla Group - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Parliament of New Zealand
- Videocon Industries ltd - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- Edison Trading Spa - Italy
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Minerals Council of Australia
- Sree Jayajothi Cements Limited - India
- Sarangani Energy Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Siam City Cement - Thailand
- MS Steel International - UAE
- The University of Queensland
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Eastern Energy - Thailand
- Commonwealth Bank - Australia
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Australian Coal Association
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Aboitiz Power Corporation - Philippines
- Marubeni Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
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