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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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Wednesday, 12 August 15
FOB NEWCASTLE COAL SWAP FLAT WEEK OVER WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for 4Q’ 2015 delivery down $ 0.98 per MT (-2.20%) month over month to US$ 43.65 per mt. The swap ...
Tuesday, 11 August 15
GLOBAL PRODUCTION OF CRUDE STEEL REACHED A NEW ALL-TIME HIGH OF 1,661M TONNES IN 2014 - VDKI
COALpot.com: Global production of crude steel reached a new all-time high of 1,661m tonnes in 2014, said German Coal Importer Association, in its l ...
Tuesday, 11 August 15
2016 CFR S.CHINA COAL SWAPS CLOSED SLIGHTLY HIGHER THAN 4Q 2015 CLOSING PRICES; BUT NOT SIGNIFICANT
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined just US cents 10 (0.20%) per MT month over month.
A commodi ...
Monday, 10 August 15
SOUTH KOREAN UTILITY KOMIPO INVITES BITUMINOUS COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 560,000 Metric Tons (MT) of 4,600kcal/kg NAR c ...
Sunday, 09 August 15
THE PANAMAX MARKET HAS REMAINED WEAK THIS WEEK
COALspot.com: The freight market continued to be buoyant with cape index pushing the BDI.
The BDI was up 10.49% and closed at 1200 points on 7 ...
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- Tamil Nadu electricity Board
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Chettinad Cement Corporation Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Indika Energy - Indonesia
- ASAPP Information Group - India
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Banpu Public Company Limited - Thailand
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Mjunction Services Limited - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Georgia Ports Authority, United States
- San Jose City I Power Corp, Philippines
- Deloitte Consulting - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Bhatia International Limited - India
- Heidelberg Cement - Germany
- Metalloyd Limited - United Kingdom
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Xindia Steels Limited - India
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Planning Commission, India
- The University of Queensland
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Gujarat Mineral Development Corp Ltd - India
- Manunggal Multi Energi - Indonesia
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
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