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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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Wednesday, 11 November 15
Q3' 16 RICHARDS BAY COAL SWAP LOST 15.47% SINCE 6 AUGUST; 18.65% SINCE 6 MAY
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q1’ 2016 declined week over week and month over month.
The Q1’ 2016 &nb ...
Wednesday, 11 November 15
VESSEL VALUES ARE DOWN BY AT LEAST 20% SINCE MID-AUGUST - INTERMODAL
I had promised not to spend another broker’s insight focusing on the dry bulk side. However, the sale of the M/V Churchill Bulker (179,362 dw ...
Tuesday, 10 November 15
SELF-HEATING OF COAL HAS EMPHASISED THE IMPORTANCE OF CHECKING THE ACCURACY OF SHIPPER'S DECLARATIONS - GARD
Recent incidents involving self-heating of coal has emphasised the importance of checking the accuracy of shipper’s declarations for all type ...
Tuesday, 10 November 15
API 5 FOB NEWCASTLE COAL SWAP SLIDES CONTINUE
COALspot.com: API 5 FOB Newcastle Coal swap for Q1’ 2016 delivery slid $3.55 per ton (8.50%) month over month to US$ 38.20 per ton. The swap ...
Monday, 09 November 15
BUNKER PRICES TO KEEP SLIDING THIS WEEK, EXPERT SAYS - MARINE BUNKER EXCHANGE
The oil price volatility has continued this week. Two dollars up one day and the next day two dollars down. The oil market has been trading on the ...
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- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Wood Mackenzie - Singapore
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Petron Corporation, Philippines
- Australian Coal Association
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
- Aditya Birla Group - India
- Central Electricity Authority - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Kideco Jaya Agung - Indonesia
- Indonesian Coal Mining Association
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tata Chemicals Ltd - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Bukit Makmur.PT - Indonesia
- Mjunction Services Limited - India
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- The Treasury - Australian Government
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Coalindo Energy - Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Sinarmas Energy and Mining - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Economic Council, Georgia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Trasteel International SA, Italy
- New Zealand Coal & Carbon
- AsiaOL BioFuels Corp., Philippines
- Mercuria Energy - Indonesia
- Larsen & Toubro Limited - India
- GAC Shipping (India) Pvt Ltd
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Eastern Coal Council - USA
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhushan Steel Limited - India
- Maharashtra Electricity Regulatory Commission - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Kalimantan Lumbung Energi - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- GN Power Mariveles Coal Plant, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Therma Luzon, Inc, Philippines
- Commonwealth Bank - Australia
- Power Finance Corporation Ltd., India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Dalmia Cement Bharat India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Australian Commodity Traders Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Lanco Infratech Ltd - India
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Borneo Indobara - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
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