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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, 31 October 17
BALTIC DRY INDEX TAKES A BREAK FROM ITS UPWARD RALLY COURSE - GEORGE LAZARIDIS
It has been a week of corrections for the dry bulk freight market as it seems as the general Baltic Dry Index takes a break from its upward rally c ...
Friday, 27 October 17
U.S WEEKLY COAL PRODUCTION FLAT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14.9 million short tons ...
Thursday, 26 October 17
CYBER COVER FOR E-BILLS - PHILIP STEPHENSON
KNOWLEDGE TO ELEVATE
Increasingly popular electronic bills of lading are, by their nature, susceptible to the risk of cyber attack. Here, Stan ...
Thursday, 26 October 17
INDO TO CHINA ROUNDS SUPRAS ACHIEVING AROUND HIGH $14000 - FEARNLEYS
Supramax
By mid-week the market has been relatively quiet in the Pacific basin as well, but still some healthy rates being achieved on the differ ...
Thursday, 26 October 17
STRONG SIGNAL FOR AUSTRALIAN COAL DEMAND - GREG EVANS
The International Energy Agency’s Southeast Asia Energy Outlook report, released today, presents a positive outlook for Australian coal produ ...
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Showing 1901 to 1905 news of total 6871 |
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- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Rio Tinto Coal - Australia
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Banpu Public Company Limited - Thailand
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- ASAPP Information Group - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Indian Energy Exchange, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Bhatia International Limited - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Baramulti Group, Indonesia
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- Altura Mining Limited, Indonesia
- Electricity Generating Authority of Thailand
- Xindia Steels Limited - India
- Uttam Galva Steels Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Mjunction Services Limited - India
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Tamil Nadu electricity Board
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Makmur.PT - Indonesia
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Economic Council, Georgia
- Anglo American - United Kingdom
- White Energy Company Limited
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- The University of Queensland
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- Independent Power Producers Association of India
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
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