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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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Thursday, 09 July 15
LACK OF FRESH BUSINESS IN THE PACIFIC LEFT CAPESIZE RATES MOVING SIDEWAYS - INTERMODAL
COALspot.com: Intermodal ship broker says in its weekly report that, a different picture from what we saw the previous week was painted during the ...
Wednesday, 08 July 15
RIO TINTO'S MODERNISED KITIMAT SMELTER BEGINS PRODUCTION; KITIMAT BECOMING ONE OF THE LOWEST COST SMELTERS IN THE WORLD
COALspot.com: Rio Tinto is preparing its first shipments of metal from its world-class Kitimat aluminium smelter in Canada following an extensive m ...
Wednesday, 08 July 15
Q3'15 INDONESIA COAL SWAP DECLINED 3.14% MONTH OVER MONTH
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 $ ...
Tuesday, 07 July 15
FOB RICHARDS BAY COAL SWAPS DECLINED WEEK OVER WEEK
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$ ...
Tuesday, 07 July 15
FOB NEWCASTLE COAL SWAP ADVANCED MONTH OVER MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery up $ 0.28 per MT (-0.61%) month over month to US$ 45.85 per mt. The swap wa ...
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- Indo Tambangraya Megah - Indonesia
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Dalmia Cement Bharat India
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- Aboitiz Power Corporation - Philippines
- Interocean Group of Companies - India
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Indika Energy - Indonesia
- Chamber of Mines of South Africa
- Standard Chartered Bank - UAE
- Salva Resources Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Semirara Mining and Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Energy Link Ltd, New Zealand
- Kobexindo Tractors - Indoneisa
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Alfred C Toepfer International GmbH - Germany
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- White Energy Company Limited
- Posco Energy - South Korea
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Makarim & Taira - Indonesia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- Latin American Coal - Colombia
- Parliament of New Zealand
- The University of Queensland
- Larsen & Toubro Limited - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Kideco Jaya Agung - Indonesia
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- Savvy Resources Ltd - HongKong
- Banpu Public Company Limited - Thailand
- Price Waterhouse Coopers - Russia
- Straits Asia Resources Limited - Singapore
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Kepco SPC Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Mercuria Energy - Indonesia
- SMC Global Power, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement PLC, Thailand
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Siam City Cement - Thailand
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Meenaskhi Energy Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mercator Lines Limited - India
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- PTC India Limited - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
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