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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, 30 September 15
Q1'16 FOB INDONESIA COAL SWAP FALLS $1.25 A TON AS SLIDE CONTINUES
COALspot.com: Indonesian coal swap for delivery Q4 2015 declined month on month and week over week.
The Q4 swap declined $ 0.72 (-1.78%) per t ...
Wednesday, 30 September 15
NEW BUILDING MARKET INSIGHT
COALspot.com: This year has been, beyond any doubt, a rather strenuous one for the newbuilding market. Ordering activity with regards to Dry Bulker ...
Tuesday, 29 September 15
FOB RICHARDS BAY COAL SWAPS ARE SLIDING
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$ ...
Monday, 28 September 15
API 5 FOB NEWCASTLE COAL SWAPS UP $2.15 IN ONE MONTH
COALspot.com: API 5 FOB Newcastle Coal swap for Q4’ 2015 delivery increased $2.10 per ton (5.15%) month over month to US$ 42.93 per ton. The ...
Monday, 28 September 15
CAPESIZE FLEET INCREASES BY JUST 1 VESSEL DURING LAST 12 MONTHS, IN POSITIVE SIGN FOR DRY BULK SHIPPING MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
After a rather tumultuous period, the shipping industry and more particular the dry bulk market has started to adjust to the new realities of globa ...
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- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Cigading International Bulk Terminal - Indonesia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Central Java Power - Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- South Luzon Thermal Energy Corporation
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Indogreen Group - Indonesia
- Anglo American - United Kingdom
- Electricity Authority, New Zealand
- San Jose City I Power Corp, Philippines
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- GVK Power & Infra Limited - India
- Carbofer General Trading SA - India
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Latin American Coal - Colombia
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Semirara Mining and Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Singapore Mercantile Exchange
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- GMR Energy Limited - India
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Holcim Trading Pte Ltd - Singapore
- Port Waratah Coal Services - Australia
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Medco Energi Mining Internasional
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Formosa Plastics Group - Taiwan
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Samtan Co., Ltd - South Korea
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
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