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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, 31 July 15
COAL PRODUCTION IN THE U.S. UP 3.6% FOR THE WEEK ENDING JULY 25
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Friday, 31 July 15
CHINA'S NEW OIL IMPORT RULES HAVE MINIMAL IMPACT ON STATUS QUO - FITCH
Fitch Ratings says that China's looser criteria for crude oil import rights are a positive but modest step towards encouraging private-sector p ...
Thursday, 30 July 15
EFFECTS OF THE CHINESE STOCK MARKET CRISIS - INTERMODAL
All evidence is currently signaling that the Chinese stock market will be the newest hurdle for the global economy. With the world's second lar ...
Wednesday, 29 July 15
Q1'16 FOB INDONESIA COAL SWAP CLOSED HIGHER THAN Q3'15
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and gains week over week, this past week.
The Q3 swap was decl ...
Wednesday, 29 July 15
Q4' 15 FOB RICHARDS BAY COAL SWAPS DECLINE 4.41% TO $56.52 PMT
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 declined month over month and week over week.
The Q3 swap was down US$ ...
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- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- PowerSource Philippines DevCo
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Eastern Energy - Thailand
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Mercator Lines Limited - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Australian Coal Association
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Central Electricity Authority - India
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Central Java Power - Indonesia
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Energy Development Corp, Philippines
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Tata Chemicals Ltd - India
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Timah Investasi Mineral - Indoneisa
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Coal Council - USA
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- OPG Power Generation Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining and Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
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