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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, 28 August 15
DRY BULK SHIP OWNER OPTIMISTIC ABOUT FUTURE PROSPECTS OF THE MARKET: NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
Dry bulk ship owner Golden Ocean appeared optimistic on the long term prospects of the dry bulk market, mainly thanks to an expected resolution of ...
Friday, 28 August 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING AUGUST 22 ROSE FOR THE THIRD STRAIGHT WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.5 million shor ...
Friday, 28 August 15
BANPU STRENGTHENS GROWTH PLAN
Coal Business: Asia-Pacific Synergies Increase Competitiveness for Premium Export Market.
Banpu Public Company Limited (BANPU) strengthens its ...
Thursday, 27 August 15
RATES FOR CAPES REMAINED ON A FREE FALL LAST WEEK - INTERMODAL
COALspot.com: Keeping everyone on their toes with the volatility seen in August, the Dry Bulk market undoubtedly remains a steady provider of chall ...
Wednesday, 26 August 15
MARKET INSIGHT - STRATOS TINIAKOS
It’s always interesting to comment on the market when big economies around the world are facing troubling times. Following the collapse of th ...
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- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Sakthi Sugars Limited - India
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Dalmia Cement Bharat India
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Meenaskhi Energy Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Rio Tinto Coal - Australia
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Central Electricity Authority - India
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Tamil Nadu electricity Board
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- Minerals Council of Australia
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Eastern Coal Council - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Marubeni Corporation - India
- Siam City Cement - Thailand
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- SN Aboitiz Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Formosa Plastics Group - Taiwan
- TeaM Sual Corporation - Philippines
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Bukit Asam (Persero) Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- White Energy Company Limited
- Indogreen Group - Indonesia
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Essar Steel Hazira Ltd - India
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