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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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Friday, 05 January 18
COAL DEMAND TO REMAIN FLAT TO 2022, RESULTING IN A DECADE OF STAGNATION - IEA
Global demand for coal should remain nearly flat between 2017 and 2022, resulting in a decade of stagnation for coal consumption, according to the ...
Thursday, 04 January 18
SUPRAMAX: INDO TO CHINA WERE FIXED AT AROUND $8K DAILY; DOWN AROUND 27% WOW
Supramax
Q1 kicked off with an usual standby with all counterparts waiting for the market to take direction. Further holidays in East-Europe adde ...
Wednesday, 03 January 18
KOMIPO TO BUY 130K TONS OF MIN. 5700 NAR COAL FOR FEB 2018 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a tender for 130k Metric Tons of min. 5700 NAR coal to be burnt a ...
Friday, 29 December 17
PORT OF NEWCASTLE SHIPPED A$ 1.527 BILLION WORTH OF 12.65 MT OF COAL IN NOVEMBER
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1527.6 M ...
Friday, 29 December 17
U.S WEEKLY COAL PRODUCTION SLIGHTLY UP FOR THE WEEK ENDING 23 DEC, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tons ...
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Showing 1836 to 1840 news of total 6871 |
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- Makarim & Taira - Indonesia
- Altura Mining Limited, Indonesia
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bangladesh Power Developement Board
- Wilmar Investment Holdings
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- Jaiprakash Power Ventures ltd
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Asmin Koalindo Tuhup - Indonesia
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Coal Association
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Mercator Lines Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- Ministry of Transport, Egypt
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Bharathi Cement Corporation - India
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- London Commodity Brokers - England
- Marubeni Corporation - India
- ICICI Bank Limited - India
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Parliament of New Zealand
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Aditya Birla Group - India
- Carbofer General Trading SA - India
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- PTC India Limited - India
- International Coal Ventures Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Anglo American - United Kingdom
- Romanian Commodities Exchange
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- Grasim Industreis Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Bayan Resources Tbk. - Indonesia
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Sical Logistics Limited - India
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Mjunction Services Limited - India
- The University of Queensland
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- Formosa Plastics Group - Taiwan
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