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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, 24 July 15
U.S PRODUCED 17.2 MMST OF COAL FOR THE WEEK ENDED JULY 18; FELL 11.5% YEAR ON YEAR
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.2 million shor ...
Friday, 24 July 15
THE IMPACT OF COLLAPSING CHINESE COAL IMPORTS - CLARKSONS
Global seaborne coal trade is currently projected to drop 1% y-o-y in 2015, which would be the first annual decline in almost three decades. The dr ...
Thursday, 23 July 15
ELEVEN NEW NICKEL SMELTERS ARE TO BE BUILT IN INDONESIA OVER THE NEXT TWO YEARS AT A COST OF $1.4 BILLION
Indonesia’s Most Reputable Nickel Event
Eleven new nickel smelters are to be built in Indonesia over the next two years at a cost of $1. ...
Thursday, 23 July 15
THE CAPESIZE SEGMENT KEPT FOUNDING SUPPORT ON INCREASED DEMAND FROM CHINESE STEEL MILLS - INTERMODAL
The Dry Bulk market closed off on Friday (17July 2015) noting substantial gains and the BDI surpassing the 1,000 points level for the first time af ...
Wednesday, 22 July 15
SHIPPING MARKET INSIGHT - PANOS TSILINGIRIS | INTERMODAL
In both bulk shipping sectors, there are certain, yet different, reasons and strategies to invest. In the wet, buy once you can charter-out long, w ...
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- Sindya Power Generating Company Private Ltd
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- Barasentosa Lestari - Indonesia
- Interocean Group of Companies - India
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Petron Corporation, Philippines
- Uttam Galva Steels Limited - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Bharathi Cement Corporation - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- SN Aboitiz Power Inc, Philippines
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- India Bulls Power Limited - India
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Latin American Coal - Colombia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- Kumho Petrochemical, South Korea
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Indika Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- OPG Power Generation Pvt Ltd - India
- Dalmia Cement Bharat India
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- White Energy Company Limited
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
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