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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, 21 September 15
KOMIPO OF KOREA INVITES BIDS FOR BITUMINOUS COAL
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 390,000 Metric Tons (MT) of minimum 4,600 kcal ...
Sunday, 20 September 15
BALTIC CAPE INDEX ROSE 66.52 PER CENT AND STAND NOW AT 1995 POINTS
COALspot.com: The BDI (Baltic Dry Index) rose 17.35 per cent week over week to 960 points on Friday mainly driven by the Capesize segment. The Cape ...
Friday, 18 September 15
SHIPPING AND THE FED RATE DECISION: FINANCING COSTS COULD RISE EVEN HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Regardless of the FED’s decision to raise rates, shipping stands to be influenced by the decision. Shipbroker Allied Shipbroking noted this w ...
Friday, 18 September 15
U.S. COAL PRODUCTION DECLINED 6.7 PER CENT W-W: EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.4 million shor ...
Thursday, 17 September 15
COALSPOT HAS LAUNCHED NEW THERMAL COAL INDICES FOR INDONESIAN COAL
COALspot.com has today launched real-time CS (i) Coal Indices.
The Indices represents 3800 kcal/kg GAR, 4200 kcal/kg GAR, 5000 kcal/kg GAR a ...
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- SMG Consultants - Indonesia
- Siam City Cement - Thailand
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Larsen & Toubro Limited - India
- Semirara Mining and Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Indika Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Cement Manufacturers Association - India
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Electricity Authority, New Zealand
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Interocean Group of Companies - India
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- The University of Queensland
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- London Commodity Brokers - England
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Standard Chartered Bank - UAE
- Pendopo Energi Batubara - Indonesia
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Agrawal Coal Company - India
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PTC India Limited - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Deloitte Consulting - India
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