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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, 21 October 15
MARKET INSIGHT - TIMOS PAPADIMITRIOU
In today’s dry bulk market, both freight rates and asset prices are creating mixed feelings to seasoned ship owners, who tend to instinctivel ...
Wednesday, 21 October 15
INDONESIAN COAL MINER BUKIT ASAM POSTS POSITIVE PERFORMANCE DURING FIRST THREE QUARTERS OF 2015
COALspot.com: Indonesian publicly listed and state controlled coal miner PT. Bukit Asam has announced that, the company’s coal sales up 8 per ...
Wednesday, 21 October 15
LOWER DEMAND HIT Q1' 16 INDONESIA COAL SWAPS
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 1.88 (-4.71%) per t ...
Tuesday, 20 October 15
SHIPBROKER SEES CAPESIZE RATES EASILY REACHING $25,000/DAY BY YEAR-END : NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The future course of the dry bulk market has been troubling market participants for quite some time now, as the “elusive” freight rate ...
Tuesday, 20 October 15
FOB RICHARDS BAY COAL SWAPS SINK INTO RED THIS PAST WEEK
COALspot.com: API4 FOB Richards Bay Coal swap for delivery Q4' 2015 declined week over week and month over month.
The Q4 swap was down US$ ...
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- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- CIMB Investment Bank - Malaysia
- Sarangani Energy Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jaiprakash Power Ventures ltd
- Price Waterhouse Coopers - Russia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Latin American Coal - Colombia
- Kartika Selabumi Mining - Indonesia
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Vizag Seaport Private Limited - India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bulk Trading Sa - Switzerland
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Ministry of Finance - Indonesia
- Meenaskhi Energy Private Limited - India
- Planning Commission, India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bharathi Cement Corporation - India
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Samtan Co., Ltd - South Korea
- Rashtriya Ispat Nigam Limited - India
- Carbofer General Trading SA - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- Tata Chemicals Ltd - India
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- PetroVietnam Power Coal Import and Supply Company
- PNOC Exploration Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- VISA Power Limited - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coal and Oil Company - UAE
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Wilmar Investment Holdings
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- The University of Queensland
- Ambuja Cements Ltd - India
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