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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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Monday, 06 November 17
MARINE BUNKER EXCHANGE EXPECTS BUNKER PRICES WILL CONTINUE UPWARD TREND NEXT WEEK
World fuel indexes rose during the week, supported by main oil producers’ statements about possible extension of oil production cut agreement ...
Monday, 06 November 17
THE THERMAL COAL MARKET CAME UNDER SOME PRESSURE AS THE OUTLOOK FOR DEMAND WEAKENED - DANIEL HYNES
Commodities were mixed as investors grappled with a revised tax plan in the US amid a rising USD said Daniel Hynes in his linked in post.
Acco ...
Monday, 06 November 17
THE FREIGHT MARKET WAS CONTINUED TO SOFTEN THIS PAST WEEK; BCI DOWN 184 POINT WEEK OVER WEEK
COALspot.com: The freight market was continued to soften this past week compared to the previous week, as BDI and all segments except Panamax index ...
Friday, 03 November 17
U.S. COAL PRODUCTION FELL WEEK-OVER-WEEK, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.5 million short ton ...
Wednesday, 01 November 17
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
As it was expected, the strong dry bulk freight market of the past couple of months has inspired similar activity in the second-hand market. Noneth ...
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Showing 1896 to 1900 news of total 6871 |
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- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Ministry of Finance - Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- Semirara Mining and Power Corporation, Philippines
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Power Finance Corporation Ltd., India
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Aditya Birla Group - India
- White Energy Company Limited
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- Georgia Ports Authority, United States
- Iligan Light & Power Inc, Philippines
- Planning Commission, India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Kaltim Prima Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- Global Green Power PLC Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Mercuria Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Borneo Indobara - Indonesia
- Australian Coal Association
- Mercator Lines Limited - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Salva Resources Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- PTC India Limited - India
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- The University of Queensland
- IEA Clean Coal Centre - UK
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
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