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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, 03 July 15
SHIPPING CONFIDENCE EQUALS SEVEN-YEAR LOW - MOORE STEPHENS
Overall confidence levels in the shipping industry fell during the three months to May 2015 to a level equal to the lowest rating recorded in the p ...
Thursday, 02 July 15
TECHNOLOGY AND INNOVATION IN MINING 2015 - IXG
Information Exchange Group’s Technology and Innovation in Mining 2015- International Summit on Mining
Press Release: The inaugural editi ...
Thursday, 02 July 15
THE PERFORMANCE OF THE CAPESIZE SEGMENT PUSHED DRY BULK MARKET TO UPWARD LAST WEEK
COALspot.com: The Dry Bulk market continued its upward movement last week, with the BDI closing off on Friday (26 June) in excess of 800 points, wh ...
Wednesday, 01 July 15
Q4'15 AND Q1'16 FOB RICHARDS BAY COAL SWAPS ROSE W-O-W AND M-O-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q3' 2015 rose month over month and down week over week.
The Q3 swap was up US$ ...
Wednesday, 01 July 15
BEIJING HAS OFFICIALLY EXTENDED BY TWO YEARS ITS SUBSIDY PROGRAM TO SUPPORT LOCAL SHIPPING COMPANIES IN SCRAPPING THEIR OLD TONNAGE - INTERMODAL
Last week, Beijing has officially extended by two years its subsidy program to support local shipping companies in scrapping their old tonnage in w ...
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- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- SMC Global Power, Philippines
- Sinarmas Energy and Mining - Indonesia
- Mercator Lines Limited - India
- Sree Jayajothi Cements Limited - India
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Singapore Mercantile Exchange
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- ICICI Bank Limited - India
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- India Bulls Power Limited - India
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Sojitz Corporation - Japan
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Australian Commodity Traders Exchange
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- European Bulk Services B.V. - Netherlands
- White Energy Company Limited
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Mintek Dendrill Indonesia
- Alfred C Toepfer International GmbH - Germany
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Rio Tinto Coal - Australia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Tamil Nadu electricity Board
- Posco Energy - South Korea
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Sidhee Cement - India
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Agrawal Coal Company - India
- Australian Coal Association
- Edison Trading Spa - Italy
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement - Thailand
- Aditya Birla Group - India
- GMR Energy Limited - India
- Vizag Seaport Private Limited - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
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