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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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Thursday, 05 November 15
Q2'16 INDO THERMAL COAL SWAP CONTRACT FOB INDONESIA FALLS TO $39.90/T
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week. Price of coal seen no improvements this past we ...
Thursday, 05 November 15
INFORMATION EXCHANGE GROUP'S LATAM MINING SECURITY SUMMIT 2016 - INTERNATIONAL CONFERENCE ON TECHNOLOGY SECURITY IN MINING
Press Release: LATAM Mining Security Summit 2016 is a carefully designed event that will bring together the leading stakeholders in the mining sect ...
Wednesday, 04 November 15
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
Four companies dominate global iron ore production, namely; BHP Billiton, Vale, Rio Tinto, and Fortescue Metals Group. Together these companies con ...
Wednesday, 04 November 15
FOB RICHARDS BAY COAL SWAPS GAIN W-W AND M-M
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and month over month.
The Q4 swap was up US$ 1.4 ...
Tuesday, 03 November 15
THE DISCHARGE OF CARGO IN THE PRC WITHOUT ORIGINAL BILLS OF LADING - CLYDE&CO
KNOWLEDGE TO ELEVATE
On occasions, a vessel may arrive at a port and be ready to discharge but the original bills of lading in respect of the ...
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- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Sindya Power Generating Company Private Ltd
- PowerSource Philippines DevCo
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Parry Sugars Refinery, India
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Miang Besar Coal Terminal - Indonesia
- Ministry of Finance - Indonesia
- The University of Queensland
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Parliament of New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Ambuja Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indika Energy - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- OPG Power Generation Pvt Ltd - India
- Lanco Infratech Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Tamil Nadu electricity Board
- Indian Oil Corporation Limited
- Rashtriya Ispat Nigam Limited - India
- Petron Corporation, Philippines
- Sakthi Sugars Limited - India
- Directorate Of Revenue Intelligence - India
- Globalindo Alam Lestari - Indonesia
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Siam City Cement - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMC Global Power, Philippines
- McConnell Dowell - Australia
- Sojitz Corporation - Japan
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Planning Commission, India
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- Aditya Birla Group - India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Formosa Plastics Group - Taiwan
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Mintek Dendrill Indonesia
- Jindal Steel & Power Ltd - India
- Bhushan Steel Limited - India
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- Eastern Coal Council - USA
- Borneo Indobara - Indonesia
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