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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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Sunday, 19 July 15
BDI GAINED AND CROSSED 1000 MARK THIS WEEK
COALspot.com: The BDI gained and crossed 1000 mark after many months this Friday. The BDI was up almost 20 pct and closed 1048 points on 17 July 20 ...
Saturday, 18 July 15
INTERVIEW : FRANZ ESCALANTE, CHIEF OF INFORMATION SYSTEMS, MINERA CHINALCO, PERU
We are interested in the technology of Autonomous trucks, the new-generation trucks are not remote controlled, they are truly autonomous - Franz Es ...
Friday, 17 July 15
COAL PRODUCTION IN THE U.S. INCREASES SHARPLY FOR THE WEEK ENDING JULY 11
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 16.4 million short ...
Friday, 17 July 15
INDONESIAN POWER-STATION COAL SWAPS DECLINE CONTINUES THIS PAST WEEK
COALspot.com: Indonesian coal swap for delivery Q3 2015 declined month on month and week over week, this past week.
The Q3 swap was declined $ ...
Friday, 17 July 15
DO CANCELLATION RIGHTS UNDER VOYAGE CHARTERPARTY SURVIVE RE-NOMINATION OF LOAD PORT? - INCE&CO
KNOWLEDGE TO ELEVATE
Do cancellation rights under voyage charterparty survive re-nomination of load port?
St Shipping & Transport Inc ...
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- Electricity Authority, New Zealand
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- Petron Corporation, Philippines
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- SMC Global Power, Philippines
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- McConnell Dowell - Australia
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Tata Chemicals Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Kepco SPC Power Corporation, Philippines
- Mercuria Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Global Coal Blending Company Limited - Australia
- AsiaOL BioFuels Corp., Philippines
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Chamber of Mines of South Africa
- Leighton Contractors Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Maheswari Brothers Coal Limited - India
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- The University of Queensland
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- The State Trading Corporation of India Ltd
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Manunggal Multi Energi - Indonesia
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