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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, 17 September 15
LOW DEMAND PUSH COAL SWAP DOWN
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and gain week over week.
The 4Q swap declined $ 1.77 (-4.17%) ...
Thursday, 17 September 15
MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
Having experienced, as it was much anticipated, a poor 1st half combined with negative forecasts, summer, in sharp contrast, proved to be more hope ...
Wednesday, 16 September 15
SLOWER GROWTH IN WORLD COAL DEMAND AND LOWER INTERNATIONAL COAL PRICES LED A DECLINE IN INDONESIAN COAL PRODUCTION
COALspot.com: Slower growth in world coal demand particularly China and lower international coal prices have led to a decline in Indonesian coal pr ...
Wednesday, 16 September 15
HIGHER TAXES COULD LEAD GREEK SHIP OWNERS OUT OF THE COUNTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
A potential taxation overhaul of the shipping industry in Hellas, which could see the loss of particular tax benefits for ship owners, could lead t ...
Tuesday, 15 September 15
WORLD SEABORNE TRADE: ENTERING INTO A ROLE REVERSAL? - CLARKSONS
Over the past decade, world seaborne trade growth has been dominated by dry bulk and container trade. However, developments in the global economy t ...
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- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Miang Besar Coal Terminal - Indonesia
- Thai Mozambique Logistica
- PTC India Limited - India
- Intertek Mineral Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Neyveli Lignite Corporation Ltd, - India
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Jorong Barutama Greston.PT - Indonesia
- India Bulls Power Limited - India
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- VISA Power Limited - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- Gujarat Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Makarim & Taira - Indonesia
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- Bukit Asam (Persero) Tbk - Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
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