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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, 28 September 15
Q1'16 CFR SOUTH CHINA COAL SWAP ROSE 2.73 PER CENT M-M
COALspot.com: API 8 CFR South China Coal swap for 4Q’ 2015 delivery moved upward US$ 1.45 (3.04 %) per ton month over month.
A commodity ...
Sunday, 27 September 15
THE PANAMAX INDEX FELL 1.19 PCT WEEK OVER WEEK
COALspot.com: The BDI closed Friday (25/09/2015) at 943 points, down by 17 points compared to previous Friday closing (18/09/2015). The BDI wa ...
Friday, 25 September 15
COAL PRODUCTION IN THE U.S. FOR THE WEEK ENDING SEPTEMBER 19 ROSE 2.5% PER CENT W-W
COALspot.com – United States the world’s second largest coal producer has produced approximately totaled an estimated 17.8 million shor ...
Wednesday, 23 September 15
CAPESIZE: SPOT RATES HAVE INCREASED MORE THAN 70 PER CENT DURING LAST WEEK
Dry Bulk owners, always look at September as the time that the market “signals” what lies ahead for the remainder of the year. The Chin ...
Wednesday, 23 September 15
INDONESIA: NEW REGULATION APPLIES FINAL INCOME TAX TO MINERAL AND COAL SALES - FLORENCE GRACIA SANTOSO
To increase state revenue from the mining sector, the Government of Indonesia has imposed a new final income tax on any sale of mineral and coal, a ...
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- Star Paper Mills Limited - India
- AsiaOL BioFuels Corp., Philippines
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Commonwealth Bank - Australia
- PetroVietnam Power Coal Import and Supply Company
- Salva Resources Pvt Ltd - India
- Xindia Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Bharathi Cement Corporation - India
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Coal and Oil Company - UAE
- The University of Queensland
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- IHS Mccloskey Coal Group - USA
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Mercuria Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- GVK Power & Infra Limited - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Videocon Industries ltd - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Agrawal Coal Company - India
- Asmin Koalindo Tuhup - Indonesia
- Parry Sugars Refinery, India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Altura Mining Limited, Indonesia
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
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