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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, 12 July 15
SHIPYARD NOT LIABLE FOR ENGINE ROOM FIRE CAUSED BY OIL LEAKAGE - BIRCH WINDAHL
KNOWLEDGE TO ELEVATE
A Danish vessel owner requested a Danish shipyard to undertake repairs and maintenance works on its vessel. An agreement ...
Saturday, 11 July 15
MAJOR IRANIAN GAS EXPORTS WILL TAKE AT LEAST FIVE YEARS - FITCH
Iran has the long-term potential to become one of the world's top gas producers, thanks to its 34 trillion cubic meters (tcm) of natural gas re ...
Friday, 10 July 15
DRY BULK MARKET KEEPS POSITIVE MOMENTUM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its positive momentum over the course of the past few days, thanks to Panamax gains. During yesterday’s session ...
Friday, 10 July 15
U.S PRODUCED APPROXIMATELY TOTALED AN ESTIMATED 14.1 MMST WEEK OVER WEEK - EIA
COALspot.com – United States the second largest coal producer in the world has produced approximately totaled an estimated 14.1 million short ...
Thursday, 09 July 15
CPP MARKET : POSITIVE IN THE SHORT TERM - GEORGE VASTARDIS
Despite the traditionally quieter summer period, the clean tanker market has so far experienced healthy activity especially East of Suez. Increased ...
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- Ind-Barath Power Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Siam City Cement PLC, Thailand
- Mercuria Energy - Indonesia
- Georgia Ports Authority, United States
- Thai Mozambique Logistica
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- LBH Netherlands Bv - Netherlands
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bahari Cakrawala Sebuku - Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- SMG Consultants - Indonesia
- Kaltim Prima Coal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- PowerSource Philippines DevCo
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indogreen Group - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Marubeni Corporation - India
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Mines - Canada
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- McConnell Dowell - Australia
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Eastern Coal Council - USA
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- Ministry of Transport, Egypt
- Siam City Cement - Thailand
- VISA Power Limited - India
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Manunggal Multi Energi - Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Deloitte Consulting - India
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Planning Commission, India
- Binh Thuan Hamico - Vietnam
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- CNBM International Corporation - China
- Samtan Co., Ltd - South Korea
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Minerals Council of Australia
- Chamber of Mines of South Africa
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Bangladesh Power Developement Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
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