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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, 17 August 15
INDONESIAN THERMAL COAL REFERENCE PRICE HITS RECORD LOW AGAIN!
COALspot.com - The Director General of Mineral and Coal of Indonesia revised down Indonesian coal benchmark price once again to US$ 59.14 per MT fo ...
Monday, 17 August 15
CFR SOUTH CHINA COAL SWAPS CONTINUE TO HEAD SOUTH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US cents 40 (1.05%) per MT month over month.
A commodi ...
Sunday, 16 August 15
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO STEADY NEXT WEEK
COALspot.com: The BDI softened 12.08 per cent to 1055 points this week due to weakening of cape index which was fell 25 per cent week over week to ...
Friday, 14 August 15
FOB INDONESIA COAL SWAP SHOWING NO MOVEMENT THIS PAST WEEK
COALspot.com: Indonesian coal swap for delivery 4Q 2015 declined month on month and week over week, this past week.
The 4Q swap was declined $ ...
Friday, 14 August 15
U.S. COAL PRODUCTION UP 2.9 PER CENT THIS WEEK
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 18.2 million shor ...
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- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- PetroVietnam Power Coal Import and Supply Company
- Price Waterhouse Coopers - Russia
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- The University of Queensland
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Minerals Council of Australia
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Makarim & Taira - Indonesia
- PNOC Exploration Corporation - Philippines
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Renaissance Capital - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Aditya Birla Group - India
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- SMC Global Power, Philippines
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Africa Commodities Group - South Africa
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Agrawal Coal Company - India
- Savvy Resources Ltd - HongKong
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Tamil Nadu electricity Board
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Commonwealth Bank - Australia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Altura Mining Limited, Indonesia
- Chettinad Cement Corporation Ltd - India
- Romanian Commodities Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Tata Chemicals Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- London Commodity Brokers - England
- Xindia Steels Limited - India
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