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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, 24 August 15
IS CHINA'S STEEL EXPORTS ENOUGH TO SUPPORT THE FREIGHT MARKET? - BIMCO
No, it’s not enough, you will need lower Chinese iron ore production too in order to keep growing imports of iron ore into China that will su ...
Sunday, 23 August 15
SHIPPING FREIGHT RATES FALL SHARPLY ON EXCESS SUPPLY AND LOW DEMAND
COALspot.com: The BDI continued to soften and was down 5.78 pct and falls back below 1000 points this week.
The cape Index lost 17.25 per cent ...
Friday, 21 August 15
U.S. YEAR-TO-DATE COAL PRODUCTION VOLUME FALLS 8.7% Y-O-Y
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.3 million shor ...
Friday, 21 August 15
GLOBALCOAL TO LAUNCH ONLINE TRADING OF PHYSICAL MET COAL ON 13 OCTOBER
On 13 October 2015, globalCOAL will launch an online platform for the physical procurement and trade of high quality hard coking coal delivered FOB ...
Thursday, 20 August 15
COAL PRICES FALL TO 12-YEAR LOWS AS CHINA, INDIA JOIN DEMAND SLOWDOWN - REUTERS
Coal futures have fallen to 12-year lows, hit by soaring production and a slowdown in global buying, including from India and China which until rec ...
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- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- South Luzon Thermal Energy Corporation
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Vizag Seaport Private Limited - India
- The University of Queensland
- Holcim Trading Pte Ltd - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- GMR Energy Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Timah Investasi Mineral - Indoneisa
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Malabar Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- VISA Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Pendopo Energi Batubara - Indonesia
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Grasim Industreis Ltd - India
- Australian Coal Association
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
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