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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, 08 December 17
U.S. WEEKLY COAL PRODUCTION UP 11.6 PER CENT WEEK OVER WEEK, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 07 December 17
SUPRAMAX: CHINA TO INDIA FIXING AT MID US$ 8000 - FEARNLEYS
Supramax
There has been quite some activity in the Atlantic basin this week, rates out of USG are still firm, trips to Emed gone through at low/m ...
Thursday, 07 December 17
THE ROLE OF COAL - AN INCONVENIENT TRUTH - BENJAMIN SPORTON, WCA
At the climate talks in Bonn, a global alliance to phase out coal was launched. This, along with other rhetoric about developments in the energy se ...
Wednesday, 06 December 17
SHIPPING MARKET INSIGHT - VASILIS VASILEIOU
Moving towards the end of 2017, we are facing a relatively slack period of business in the ship repair sector. The repair market has already mature ...
Tuesday, 05 December 17
DOES BITCOIN HAVE A FUTURE IN SHIPPING? - ALIBRA SHIPPING
Google now receives more search requests for Bitcoin than for Kim Kardashian, Beyoncé and Taylor Swift combined. This week, a shipping compa ...
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Showing 1856 to 1860 news of total 6871 |
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- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Karaikal Port Pvt Ltd - India
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Toyota Tsusho Corporation, Japan
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Kideco Jaya Agung - Indonesia
- Videocon Industries ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- Bangladesh Power Developement Board
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Wood Mackenzie - Singapore
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- The State Trading Corporation of India Ltd
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Global Business Power Corporation, Philippines
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Indogreen Group - Indonesia
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- PTC India Limited - India
- Standard Chartered Bank - UAE
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Eastern Coal Council - USA
- Australian Coal Association
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Ceylon Electricity Board - Sri Lanka
- Global Coal Blending Company Limited - Australia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Therma Luzon, Inc, Philippines
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- LBH Netherlands Bv - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Price Waterhouse Coopers - Russia
- Bhoruka Overseas - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Coalindo Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Eastern Energy - Thailand
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Anglo American - United Kingdom
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- SMC Global Power, Philippines
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