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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, 07 November 17
MECHEL SIGNED LONG-TERM COAL SUPPLY CONTRACT WITH ITOCHU CORPORATION
Mechel PAO a leading Russian mining and metals company, reports signing a framework agreement with a major Japanese universal trading company Itoch ...
Tuesday, 07 November 17
DRY BULK SHIPPING: TAKE GOOD CARE OF THE RECOVERY SAYS PETER SAND
Demand:
Even without much support from Brazilian iron ore exports during August, capesize rates went from $10,000 to $17,000 per day. In Septembe ...
Tuesday, 07 November 17
COAL MARKETS WERE RELATIVELY BUOYANT - DANIEL HYNES
Coal markets were relatively buoyant. Metallurgical coal prices were supported by the stronger steel and iron ore prices, says Daniel Hynes, Senior ...
Tuesday, 07 November 17
PROSPERITY AND WINTER WARMTH REMAIN PARAMOUNT IN CHINA - JEFFREY LANDSBERG
Chinese officials announced recently that 580 gigawatts of coal-derived electricity generation capacity has completed ultra-low emissions reform as ...
Monday, 06 November 17
COAL SHORTAGE HURTS INDIA'S HINDALCO AND VEDANTA SAYS BUSINESS STANDARD
Aluminium smelter operations of Vedanta and Hindalco are at risk of turning unviable due to a coal crunch.
According to Business Standard an I ...
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Showing 1891 to 1895 news of total 6871 |
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- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Green Power PLC Corporation, Philippines
- McConnell Dowell - Australia
- Attock Cement Pakistan Limited
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Binh Thuan Hamico - Vietnam
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Dalmia Cement Bharat India
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Planning Commission, India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Ministry of Transport, Egypt
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Chamber of Mines of South Africa
- Sakthi Sugars Limited - India
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Independent Power Producers Association of India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Gujarat Sidhee Cement - India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- MS Steel International - UAE
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Carbofer General Trading SA - India
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- Aditya Birla Group - India
- Wood Mackenzie - Singapore
- SN Aboitiz Power Inc, Philippines
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Georgia Ports Authority, United States
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