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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, 05 October 15
Q1' 16 CFR SOUTH CHINA COAL SWAP CLOSED US$ 48.05 PER TON
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery down US$ 0.47 (0.96 %) per ton month over month.
A commodity swap is ...
Monday, 05 October 15
SMALL DECLINE IN 2014 SHIP OPERATING COSTS - MOORE STEPHENS
Total annual operating costs in the shipping industry fell by an average of 0.8% in 2014. This compares with the 0.3% average fall in costs recorde ...
Sunday, 04 October 15
THE INDO-INDIA FREIGHT MARKET REMAINS UNDER PRESSURE
COALspot.com: The BDI closed on Friday (2 Oct 2015) at 889 points, down by 54 points compared to previous Friday's closing ( 24 Sept 2015) of 9 ...
Friday, 02 October 15
COAL PRODUCTION IN THE UNITED STATES DECREASED 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, 01 October 15
SOUTH KOREA'S KOMIPO SEEKS SPOT BITUMINOUS COAL SUPPLIES
COALspot.com: South Korean state-owned utility Korea Midland Power (KOMIPO) issued an new tender for 265,000 Metric Tons (MT) of minimum 4,600 kcal ...
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- GVK Power & Infra Limited - India
- Sical Logistics Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Energy - Thailand
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- PowerSource Philippines DevCo
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Independent Power Producers Association of India
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- ICICI Bank Limited - India
- Aditya Birla Group - India
- PTC India Limited - India
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Xindia Steels Limited - India
- Krishnapatnam Port Company Ltd. - India
- Bhatia International Limited - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Cigading International Bulk Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Toyota Tsusho Corporation, Japan
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bulk Trading Sa - Switzerland
- Sinarmas Energy and Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Vizag Seaport Private Limited - India
- Orica Australia Pty. Ltd.
- Madhucon Powers Ltd - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Electricity Authority, New Zealand
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Posco Energy - South Korea
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Kaltim Prima Coal - Indonesia
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
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