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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, 05 August 15
COAL CONSUMPTION POSTED THE STRONGEST GROWTH AMONG THE FOSSIL ENERGY SOURCES IN 2014 - VDKI
Coal 2014: again the world's fastest-growing primary energy source and an indispensable asset for the success of the energy turnaround.
Ac ...
Wednesday, 05 August 15
FOB INDONESIA THERMAL COAL SWAPS FALL
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 $ ...
Wednesday, 05 August 15
DRY BULKER PRICES START TO FIRM UP AS MARKET SENTIMENT IMPROVES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Market pessimism in the dry bulk industry, a trend which had established itself over the course of the year, has started to fade away over the past ...
Tuesday, 04 August 15
FOB RICHARDS BAY COAL SWAPS CONTINUE TO FALL DUE TO SLIDING DEMAND
COALspot.com: API4 FOB Richards Bay Coal swap for delivery 4Q' 2015 declined month over month and week over week.
The 4Q swap was down US$ ...
Tuesday, 04 August 15
SHIPPING CYCLES - A CHESS GAME YOU DON'T WANT TO LOSE - CLARKSONS
Ingmar Bergman’s classic movie The Seventh Seal is about a knight who, during the Black Death, challenges Death to a chess match, in the hope ...
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- Meenaskhi Energy Private Limited - India
- Mercator Lines Limited - India
- PTC India Limited - India
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Kepco SPC Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
- Timah Investasi Mineral - Indoneisa
- Gujarat Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Pipit Mutiara Jaya. PT, Indonesia
- CNBM International Corporation - China
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Economic Council, Georgia
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Siam City Cement PLC, Thailand
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- Parliament of New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Karaikal Port Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Energy Development Corp, Philippines
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Indian Oil Corporation Limited
- VISA Power Limited - India
- Australian Coal Association
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Maheswari Brothers Coal Limited - India
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- New Zealand Coal & Carbon
- Agrawal Coal Company - India
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Planning Commission, India
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Asmin Koalindo Tuhup - Indonesia
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Globalindo Alam Lestari - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- SMG Consultants - Indonesia
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Indika Energy - Indonesia
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- GMR Energy Limited - India
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