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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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Monday, 12 October 15
BDI WEIGHED DOWN BY CAPE
COALspot.com: The BDI (Baltic Dry Index) has come back down again this week. The BDI is a benchmark index used to assess the overall cost of moving ...
Sunday, 11 October 15
TANKER SHIPPING: MORE OPTIMISM IN SIGHT FOR TANKERS IN THE WINTER SEASON - BIMCO
Demand:
2015 has been the year of the tanker. The fundamental improvements with slow supply-side growth for some years coupled with low oil pri ...
Friday, 09 October 15
US WEEKLY COAL OUTPUT UP 1.2 PERCENT TO 17.7 MMST
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.7 million shor ...
Thursday, 08 October 15
CAPESIZE: MOST PEOPLE AGREE A SPIKE IN RATES WILL HAPPEN; WHEN, HOW LONG AND HOW SUBSTANTIAL? - FEARNLEYS
Cape
Depressives start of the fourth quarter, with c3 approaching USD 12 pmt and c5 presently in the mind 5's. According to Fearnleys ship br ...
Wednesday, 07 October 15
U.S. COAL EXPORTS FOR THE FIRST SEVEN MONTHS DOWN 21 PER CENT COMPARED WITH THE SAME PERIOD IN 2014 - EIA
Coal Supply
Lower U.S.’s domestic coal consumption and reduced exports contribute to a forecast decline of 89 million short tons (M ...
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- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
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- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
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- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Krishnapatnam Port Company Ltd. - India
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
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- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- MS Steel International - UAE
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
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- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Dalmia Cement Bharat India
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- Kartika Selabumi Mining - Indonesia
- Indo Tambangraya Megah - Indonesia
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Rio Tinto Coal - Australia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Karbindo Abesyapradhi - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Formosa Plastics Group - Taiwan
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- PNOC Exploration Corporation - Philippines
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- Thai Mozambique Logistica
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- OPG Power Generation Pvt Ltd - India
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- Essar Steel Hazira Ltd - India
- The University of Queensland
- Directorate Of Revenue Intelligence - India
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- Xindia Steels Limited - India
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Indian Oil Corporation Limited
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- AsiaOL BioFuels Corp., Philippines
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Georgia Ports Authority, United States
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- SMC Global Power, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
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- GAC Shipping (India) Pvt Ltd
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- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
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- Jindal Steel & Power Ltd - India
- Sree Jayajothi Cements Limited - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Cement Manufacturers Association - India
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