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Wednesday, 05 July 17
TANKER MARKET INSIGHT - KATERINA RESTIS
 A war of words blasted last month as the UAE, S. Arabia, Egypt and Bahrain revealed that they are experiencing severe diplomatic issues with the state of Qatar over assertions that it is sponsoring terrorism. Furthermore, various prohibitions have been imposed on land, sea and air travel as well as movement of goods into and out of Qatar, triggering economic and social isolation. President Trump has supported S. Arabia even though Qatar was recently identified by him as a “strategic partner”. Unfortunately, such developments mark an unprecedented swift in Middle Eastern relations, which undoubtedly affect the maritime industry with developing implications.
Qatari flagged or owned vessels, calling ports in S. Arabia, UAE and Bahrain have been restricted from entering and also excluded from their regional waters. A ban has been imposed in certain ports on vessels of any flag arriving from, or bound for, Qatari ports. Currently, the restriction is related only to the last/next port call as a vessel transiting via a third country such as Kuwait or Oman would not be refused entry. Additionally, Saudi Arabia has prohibited the discharging of goods of Qatari origin in its ports. Egypt further cut off diplomatic ties with Qatar and access to its airspace but Suez Canal transit remains open and unaffected for Qatari flagged or owned vessels and delivery of cargoes. In view of the current situation Qatar ports have not yet declared any joint restraint on any vessel arriving from, or proceeding to, S. Arabia, the UAE or Bahrain.
Moreover, UAE acquires almost 1/3 of its natural gas from Qatar via the Dolphin Energy pipeline. The value of Qatar’s trade with Saudi Arabia is over $2 billion, $7 billion with the UAE and $500 million with Bahrain. Remarkably, Qatar exports more to these countries than it imports. The exposure of the S. Arabia banking sector to Qatar is assessed to be $30 billion with the UAE’s exposure being of similar magnitude. It has recently been reported that some Saudi, UAE and Egyptian banks are suspending business with Qatari banks until they receive guidance from their central banks.
Qatar is a major exporter of condensate and the trade sanction may render the purchase of Qatari crude and condensate difficult. Excluding vessels that have called at Qatar may require traders to differ their trading patterns. For example, as recently reported, the LNG carriers Zarga and Al Mafyar with Qatar cargo onboard are going to Europe around the continent of Africa as an alternative of the preferred route via the Red Sea and the Suez Canal.
Bunkering is also likely to be affected in bunkering ports such as Fujairah, where some three-quarters of tankers sailing through the Gulf stopover to refuel. It is reported that the Fujairah port’s immigration is not permitting crews to join or to sign off vessels coming from or bound to Qatar. Largely, Qatar and its neighbors share strong cultural and family ties.
In any event, for the time being, there is no indication of the dispute de-escalating. In the short term, the costs will fall more heavily but not entirely on Qatar. However, if the conflict persists, Qatar will search for alternative channels, which could in turn change the economic, social, and political landscape of the Gulf in ways that will ultimately challenge its neighbors. The current conflict comes at a time of severe economic downturn caused by the fall in global energy prices. Gulf economies are already distressed due to low oil prices. We expect to have more visibility on the operational and further implications of the restrictions against Qatar as the matter unfolds.
By Katerina Restis
Tanker Chartering
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no reproducing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Thursday, 01 February 18
RISING US OIL EXPORTS, MARKET DISRUPTION, BRENT-WTI SPREAD - WOOD MACKENZIE
What will US tight oil growth do to crude markets? The build-up in volumes early this decade led to a supply glut that undermined prices in 2014.
...
Wednesday, 31 January 18
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
Days before the celebrations of the Lunar New Year, the dry bulk market seems to be holding well, against negative predictions. Period numbers repo ...
Monday, 29 January 18
BALTIC INDEX GAINS ON STRONGER BIG VESSEL ACTIVITY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose this past week and ending on a positive note week ov ...
Monday, 29 January 18
U.S.WEEKLY COAL OUTPUT UP 8.7% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.6 million short tons ...
Wednesday, 24 January 18
SHIPPING MARKET INSIGHT - GEORGE ILIOPOULOS
Since the beginning of the New Year we have been witnessing the BDI correcting downwards, which nonetheless seems to have no effect at ...
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Showing 1821 to 1825 news of total 6871 |
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- Alfred C Toepfer International GmbH - Germany
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Cigading International Bulk Terminal - Indonesia
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- Lanco Infratech Ltd - India
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Therma Luzon, Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Posco Energy - South Korea
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- Independent Power Producers Association of India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Planning Commission, India
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Chettinad Cement Corporation Ltd - India
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Bayan Resources Tbk. - Indonesia
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Xindia Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Global Coal Blending Company Limited - Australia
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Sindya Power Generating Company Private Ltd
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Energy Link Ltd, New Zealand
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Ministry of Transport, Egypt
- Ministry of Mines - Canada
- Directorate Of Revenue Intelligence - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Neyveli Lignite Corporation Ltd, - India
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Wilmar Investment Holdings
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Petron Corporation, Philippines
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Sical Logistics Limited - India
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Deloitte Consulting - India
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Indogreen Group - Indonesia
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Electricity Authority, New Zealand
- Intertek Mineral Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Coal Council - USA
- MS Steel International - UAE
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
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