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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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Saturday, 31 October 15
ADARO ENERGY'S CORE EARNINGS DECLINE 21 PER CENT FOR THE NINE MONTHS PERIOD TO SEPTEMBER 2015
COALspot.com: Adaro Energy's core earnings decline 21% to US$228 Million for first 9months of this year compared to the same period last year. ...
Friday, 30 October 15
INDONESIA'S COAL EXPORTS DROP ON LOW PRICES - THE JAKARTA POST
Indonesia's coal exports significantly dropped in the first nine months of the year as coal companies continued to suffer from low prices in ad ...
Friday, 30 October 15
CHINESE MINERAL IMPORTS: MOVING ON FROM INDONESIA? - CLARKSONS
China has accounted for almost 90% of global imports of nickel ore and bauxite in recent years and was therefore heavily hit by the Indonesian mine ...
Friday, 30 October 15
COAL PRODUCTION IN THE UNITED STATES INCREASED THIS WEEK - EIA
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.5 million shor ...
Thursday, 29 October 15
Q2' 16 FOB INDONESIA COAL SWAP CLOSED US$ 37.40 PER TON; DECLINED 5.56 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 2.13 (-5.34%) per t ...
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- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Rio Tinto Coal - Australia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- Antam Resourcindo - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Eastern Energy - Thailand
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Parliament of New Zealand
- Siam City Cement PLC, Thailand
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- Global Green Power PLC Corporation, Philippines
- IEA Clean Coal Centre - UK
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Economic Council, Georgia
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Attock Cement Pakistan Limited
- GMR Energy Limited - India
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Minerals Council of Australia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Agrawal Coal Company - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Planning Commission, India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Kaltim Prima Coal - Indonesia
- Meenaskhi Energy Private Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- VISA Power Limited - India
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Semirara Mining Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Energy Development Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Medco Energi Mining Internasional
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
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