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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, 03 November 15
API 5 FOB NEWCASTLE COAL SWAPS DECLINE CONTINUES
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery slid $1.84 per ton (4.34%) month over month to US$ 40.54 per ton. The swap ...
Tuesday, 03 November 15
EU OIL MAJORS FACE FURTHER EARNINGS DECLINE IN Q415 - FITCH RATINGS
The sharp drop in major European oil companies' third-quarter profits is likely to be extended in the fourth quarter as refining margins, which ...
Monday, 02 November 15
DESPITE CHALLENGING MARKET CONDITIONS, ADARO LOWERS COSTS, DEBT AND DELIVERS STRONG FREE CASH FLOW
COALspot.com: Despite challenging market conditions, Adaro lowers costs, lowers debt and delivers strong free cash flow.
The Indonesia’s ...
Monday, 02 November 15
CFR SOUTH CHINA COAL SWAPS CLOSED ON A WEAK NOTE
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery declined US$ 1.81(3.71 %) per ton month over month.
A commodity swap ...
Sunday, 01 November 15
THE FREIGHT MARKET SENTIMENT REMAINS WEAK
This week’s freight market sentiment remains weak compared to last week.
The Baltic Dry Index (BDI), an economic indicator issued daily ...
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Showing 2736 to 2740 news of total 6871 |
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- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Planning Commission, India
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Singapore Mercantile Exchange
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Goldman Sachs - Singapore
- IEA Clean Coal Centre - UK
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Thai Mozambique Logistica
- Chamber of Mines of South Africa
- Miang Besar Coal Terminal - Indonesia
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Medco Energi Mining Internasional
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Bangladesh Power Developement Board
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Latin American Coal - Colombia
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Kapuas Tunggal Persada - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- MS Steel International - UAE
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- Banpu Public Company Limited - Thailand
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Cigading International Bulk Terminal - Indonesia
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Sojitz Corporation - Japan
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Sical Logistics Limited - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Kumho Petrochemical, South Korea
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Gujarat Mineral Development Corp Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- AsiaOL BioFuels Corp., Philippines
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Riau Bara Harum - Indonesia
- Larsen & Toubro Limited - India
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