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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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Friday, 04 September 15
GOVERNORS WILL HAVE THE POWER TO REVOKE MINERS' PERMITS: ENERGY MINISTRY - JG
Starting Oct. 1, Indonesia's governors will lawfully become "executors" in revoking the licenses of miners that fail to secure a &quo ...
Thursday, 03 September 15
MINISTRY OF ENERGY AND MINERAL RESOURCES OF INDONESIA TO REVISE HBA METHODOLOGY
COALspot.com: Ministry of Energy and Mineral Resources (ESDM) in process to revise Indonesian Coal Price Reference (HBA) and expected to complete b ...
Thursday, 03 September 15
THE CHINESE STOCK MARKET AND THE CHINESE ECONOMY CONTINUE TO SUBSTANTIALLY AFFECT TRADING - INTERMODAL
The last week of the summer season saw the BDI dipping further on the back of another significant drop in rates for Capes, which brought the market ...
Wednesday, 02 September 15
PORT OF NEWCASTLE SHIPPED 13.46 MMT OF COAL IN JULY; UP 0.66 PER CENT M-O-M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.224 billi ...
Wednesday, 02 September 15
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
In the beginning of the summer period SnP activity was firm with numerous buyers, coming mainly from Greece and the Far East, inspecting ships and ...
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- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Salva Resources Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Standard Chartered Bank - UAE
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indian Oil Corporation Limited
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- SMG Consultants - Indonesia
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Kobexindo Tractors - Indoneisa
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Iligan Light & Power Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Chettinad Cement Corporation Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
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