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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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Wednesday, 15 November 17
MARKET INSIGHT - LINOS KOGEVINAS
For another week, oil seems to be the most volatile and interesting commodity to watch. In this segment we’ll look at some of the major facto ...
Tuesday, 14 November 17
COAL STOCKS RUN SHORT, CENTRE TO GET DAILY UPDATE ON STOCKS - DECCAN CHRONICLE
Facing a shortage of coal for thermal power generation in the country, the Central Electricity Authority (CEA) has issued guidelines for maintainin ...
Tuesday, 14 November 17
IN 2018, WORLD OIL DEMAND IS FORESEEN REACHING 1.51 MB/D - OPEC
Oil Market Highlights - OPEC
The OPEC Reference Basket averaged $55.50/b in October, gaining $2.06 over the previous month and reaching the hi ...
Monday, 13 November 17
THERMAL COAL PRICES WERE RELATIVELY UNCHANGED - DANIEL HYNES
Coal prices were broadly higher, driven by strong gains in the metallurgical coal market said Daniel Hynes, Senior Commodity Strategist at ANZ in h ...
Monday, 13 November 17
THIESS AWARDED $300M SANGATTA EXPANSION CONTRACT
Thiess has been awarded a $300 million contract by Kaltim Prima Coal (KPC) to expand operations at Sangatta coal mine in East Kalimantan, Indonesia ...
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Showing 1881 to 1885 news of total 6871 |
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- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- Merrill Lynch Commodities Europe
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Anglo American - United Kingdom
- Central Electricity Authority - India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Ministry of Transport, Egypt
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Meenaskhi Energy Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Petron Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Salva Resources Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Globalindo Alam Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Pendopo Energi Batubara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Deloitte Consulting - India
- SMG Consultants - Indonesia
- VISA Power Limited - India
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- MS Steel International - UAE
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Energy Link Ltd, New Zealand
- AsiaOL BioFuels Corp., Philippines
- Bayan Resources Tbk. - Indonesia
- Energy Development Corp, Philippines
- PTC India Limited - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- Singapore Mercantile Exchange
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Coalindo Energy - Indonesia
- PowerSource Philippines DevCo
- PetroVietnam Power Coal Import and Supply Company
- Jindal Steel & Power Ltd - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indogreen Group - Indonesia
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