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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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Friday, 16 October 15
MAJOR REVISION OF NYPE TIME CHAPTER PARTY - BIMCO
Major revision of NYPE time charter party promises to be both balanced and comprehensive
BIMCO has today jointly issued the first revision of ...
Friday, 16 October 15
FOB INDONESIA COAL SWAP FOR Q4'15 DELIVERY FLAT WEEK OVER WEEK; DOWN 5.5 PER CENT M-M
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and flat week over week.
The Q4 swap declined $ 2.23 (-5.51%) ...
Friday, 16 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED THIS WEEK; DOWN 11.3 PER CENT Y-Y, DOWN 3.5 PERCENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.1 million shor ...
Friday, 16 October 15
INDONESIA REJOINING OPEC DESPITE BEING A NET IMPORTER OF PETROLEUM - EIA
The Organization of the Petroleum Exporting Countries (OPEC) notified Indonesia that it plans to accept the country's request to reactivate its ...
Thursday, 15 October 15
INDONESIA COAL PRICE REFERENCE FALLS FOR SEVEN STRAIGHT MONTH IN OCTOBER
COALspot.com - The Director General of Mineral and Coal of Indonesia once a again revised down Indonesian coal benchmark price this month.
The ...
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- CIMB Investment Bank - Malaysia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- Binh Thuan Hamico - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Sical Logistics Limited - India
- Ministry of Finance - Indonesia
- Orica Australia Pty. Ltd.
- ASAPP Information Group - India
- Romanian Commodities Exchange
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- Wilmar Investment Holdings
- Jorong Barutama Greston.PT - Indonesia
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Port Waratah Coal Services - Australia
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Globalindo Alam Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Goldman Sachs - Singapore
- Parry Sugars Refinery, India
- PTC India Limited - India
- Posco Energy - South Korea
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- The University of Queensland
- Gujarat Mineral Development Corp Ltd - India
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Kalimantan Lumbung Energi - Indonesia
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Semirara Mining and Power Corporation, Philippines
- White Energy Company Limited
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Kaltim Prima Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Indika Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Heidelberg Cement - Germany
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Oldendorff Carriers - Singapore
- Bayan Resources Tbk. - Indonesia
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Ministry of Transport, Egypt
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