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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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Tuesday, 23 January 18
OIL MARKET ANALYSIS - ALLIED
Brent oil futures hit a three year high on January 16th touching around USD 70.30 before falling back down to around USD 68.60 at the Time of this ...
Friday, 19 January 18
U.S. WEEKLY COAL OUTPUT WAS 13.5 MMST FOR THE WEEK ENDING JANUARY 13, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 13.5 million short tons ...
Thursday, 18 January 18
WORLD TRADE IN HARD COAL RISES BY 1.5% IN 2017 - KOHLENIMPORTEURE
Press Release: World Trade in Hard Coal Rises by 1.5% in 2017. German Steam Coal Imports Plummet by 15% in 2017 – in Contrast to Other Sector ...
Wednesday, 17 January 18
SHIPPING MARKET INSIGHT - INTERMODAL
As we are now well into the first month of 2018, the mood across the entire offshore industry undeniably remains rather positive following the oil ...
Monday, 15 January 18
THE FREIGHT RATES ARE EXPECTED TO BE FLAT TO WEAK THIS WEEK - VISTAAR
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
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Showing 1826 to 1830 news of total 6871 |
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- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Baramulti Group, Indonesia
- Australian Coal Association
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- PNOC Exploration Corporation - Philippines
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Bukit Makmur.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Larsen & Toubro Limited - India
- White Energy Company Limited
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Agrawal Coal Company - India
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Edison Trading Spa - Italy
- Indo Tambangraya Megah - Indonesia
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Independent Power Producers Association of India
- Sree Jayajothi Cements Limited - India
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- ASAPP Information Group - India
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- GVK Power & Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Global Coal Blending Company Limited - Australia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Borneo Indobara - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Star Paper Mills Limited - India
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Bangladesh Power Developement Board
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- Formosa Plastics Group - Taiwan
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