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Thursday, 29 October 15
IRAN'S RETURN TO OIL MARKETS WILL HAVE TEMPERED IMPACT FOR THE TANKER SHIPPING INDUSTRY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
While many analysts appear to be fearful of a potential incremental rise in tanker ships’ supply, as a result of the imminent return of Iran in the global oil market, things might not necessarily pan out this way. As the world is gradually getting used to the idea that Iranian sanctions will be lifted, over the past few months further progress has been made in terms of legislation. According to the latest weekly report from shipbroker Gibson, “firstly, the US Congress failed to block the Iran nuclear deal reached in summer 2015. Secondly, the same deal has been approved by the Iranian parliament. The latest news is that on the 18th of October US authorities approved conditional sanctions waivers for Iran (known as Adoption Day). These waivers will only take effect after Iran complies with its commitments and this is verified by the IAEA (Implementation Day)”.
However, the question of how quickly will this happen, needs to be answered. According to Gibson, as per “several senior US officials, the Implementation Day is at the very least two months away; while most industry experts are of opinion that this is unlikely to happen before the first quarter of next year. If and when Iranian sanctions are lifted, it will have important implications for global oil markets. As it is, the world is awash with crude, following OPEC’s policy to defend its market share. At the same time, US crude oil production is not falling fast enough to balance supply and demand, despite prices remaining low. Finally, concerns are intensifying about the health of world economy, leading to lower expectations for global oil demand growth next year. In these circumstances, if Iran is able to rapidly increase its production and exports, this will only add more crude to an already heavily oversupplied market”.
The shipbroker added that “undoubtedly, this year the overhang of crude oil has fuelled tanker markets not only in terms of supporting trade, but also leading to additional storage requirements and loading/discharge delays. As such, any increase in Iranian exports will at the very least elevate these inefficiencies in tanker transportation, supporting tight supply/demand balance. However, there are also concerns about the Iranian fleet, which will become internationally operational and is likely to compete aggressively in the conventional tanker market when sanctions are lifted”.
According to Gibson, “as of now, 37 VLCCs, 9 Suezmaxes and 5 Aframaxes are under control of the National Iranian Tanker Company (NITC). However, about half of the fleet is already employed, largely shipping Iranian crude to a limited number of international buyers (although there is some scope here for efficiency gains, such as faster speeds and reduced waiting time). The rest of the NITC fleet is used for crude/condensate storage, with the latest count at 20 units under the NITC control and 5 by other owners. If the nuclear dispute is resolved, a number of VLCCs used for storage, will continue doing so for operational/marketing reasons as was the case prior to sanctions”.
The shipbroker also noted that “as such, essentially only those tankers which will be released from storage duties will be in position to provide an incremental boost to tanker supply. It could take some time for these ships to meet international standards in terms of class and insurance. Furthermore, many units are likely to require dry docking. On this basis, the process of “re-entry” will be gradual. Finally, if Iran succeeds in rapidly increasing its production and in significant volumes, this would provide additional demand for the NITC fleet, limiting further the threat of competition to the international tanker supply”, Gibson concluded.
Source: Nikos Roussanoglou, Hellenic Shipping News
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Tuesday, 24 November 15
COAL PRICES SET TO REMAIN UNDER PRESSURE UNTIL 2016 DUE TO OVER SUPPLY GLUT; H1 '16 COAL SWAPS DOWN 13% M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $5 per ton (12.05%) month over month to US$ 36.50 per ton. The s ...
Monday, 23 November 15
NEGATIVE 2016 OUTLOOK FOR WESTERN EUROPEAN STEEL - SAYS FITCH RATINGS
COALspot.com: European steel in 2016 are both negative for the sector and for issuer ratings.
This reflects our expectation that import levels ...
Monday, 23 November 15
DRY BULK MARKET: NET FLEET GROWTH IS SLOWING DOWN, AS SHIP OWNERS ARE LOOKING FOR WAYS TO ALLEVIATING MARKET MELTDOWN - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The dry bulk market has been in “meltdown” mode for a few weeks now, unable to find support and avoid the fall in historical lows. As s ...
Monday, 23 November 15
CS50 COAL INDEX CLOSED AT $40.27 PER TON; FELL 0.15% FROM LAST WEEK
COALspot.com: The 5700 GAR CS (i) coal index fell by US cents 3 per ton week over week on 20 November 2015. CS 57 (5700 GAR coal) index closed at U ...
Monday, 23 November 15
CFR SOUTH CHINA COAL SWAPS FALL FURTHER ON LOW DEMAND
COALspot.com: API 8 CFR South China Coal swap for Q1’ 2016 delivery declined US$ 6.75 (13.99%) per ton month over month.
A commodity swa ...
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- Price Waterhouse Coopers - Russia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Heidelberg Cement - Germany
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Barasentosa Lestari - Indonesia
- Central Java Power - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- SMC Global Power, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Latin American Coal - Colombia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Maharashtra Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- ICICI Bank Limited - India
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- The Treasury - Australian Government
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- The University of Queensland
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Uttam Galva Steels Limited - India
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Finance - Indonesia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- White Energy Company Limited
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Videocon Industries ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Power Finance Corporation Ltd., India
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Orica Australia Pty. Ltd.
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Vizag Seaport Private Limited - India
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
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