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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, 28 October 15
Q2'16 FOB RICHARDS BAY COAL SWAP SEES FURTHER DECLINES
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 gained week over week and declined month over month.
The Q4 swap was d ...
Wednesday, 28 October 15
BDI INCREASE TOOK PLACE SOLELY ON THE BACK OF CAPESIZE PERFORMANCE, BUT........ - INTERMODAL
COALspot.com: The Dry Bulk market closed off the week noting a small improvement which nonetheless failed to lift sentiment, not only because ...
Tuesday, 27 October 15
Q1'16 API 5 FOB NEWCASTLE COAL SWAP DECLINE 6 PER CENT M-M
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery decreased $2 per ton (4.66%) month over month to US$ 40.93 per ton. The swa ...
Monday, 26 October 15
PORT OF NEWCASTLE SHIPPED 10.5 PER CENT LESS COAL IN SEPTEMBER, COMPARED TO AUGUST LOADING
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port, has shipped $1.161 billi ...
Monday, 26 October 15
CFR SOUTH CHINA COAL SWAPS CLOSE DOWN 4.3% AS DEMAND CONCERNS WEIGH
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down just US$ 1.48 (3.02 %) per ton month over month.
A commodity sw ...
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- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Australian Coal Association
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Jindal Steel & Power Ltd - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Thai Mozambique Logistica
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Planning Commission, India
- Antam Resourcindo - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Chamber of Mines of South Africa
- Indian Energy Exchange, India
- European Bulk Services B.V. - Netherlands
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ind-Barath Power Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Global Coal Blending Company Limited - Australia
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate Of Revenue Intelligence - India
- Iligan Light & Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- London Commodity Brokers - England
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Coastal Gujarat Power Limited - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Billiton Holdings Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Deloitte Consulting - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Port Waratah Coal Services - Australia
- Ministry of Transport, Egypt
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
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