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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, 25 October 17
COAL MARKETS REMAINED SUBDUED - DANIEL HYNES
Coal markets remained subdued.
Daniel Hynes, Senior Commodity Strategist at ANZ, Coking coal prices were unchanged amid an absence of fresh of ...
Wednesday, 25 October 17
SHIPPING MARKET REPORT - INTERMODAL
While the majority of perspective Buyers in the dry bulk second-hand market is currently focusing on modern tonnage, there is also increased activi ...
Tuesday, 24 October 17
KOMIPO INVITED BIDS FOR MIN. 4600 NAR BLENDED SUB-BITUMINOUS COAL OF INDONESIAN ORIGIN FOR BORYEONG OR NEW BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 5,000,000 Metric Tons of blended sub-bi ...
Tuesday, 24 October 17
CHINA'S INSATIABLE APPETITE FOR THIS ENERGY COMMODITY CONTINUES STRONG - GEORGE LAZARIDIS
Crude oil prices have been seeing some support emerge this past week as supply disruptions in Iraq and a drop in US drilling has helped bolster oil ...
Friday, 20 October 17
U.S COAL PRODUCTION FELL 1.45 PER CENT WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.9 million short ton ...
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- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coalindo Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Bukit Makmur.PT - Indonesia
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Merrill Lynch Commodities Europe
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- Trasteel International SA, Italy
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Bhatia International Limited - India
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Metalloyd Limited - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Indian Oil Corporation Limited
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Uttam Galva Steels Limited - India
- Petron Corporation, Philippines
- Bharathi Cement Corporation - India
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Kumho Petrochemical, South Korea
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- CIMB Investment Bank - Malaysia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Australian Coal Association
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- SN Aboitiz Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Eastern Energy - Thailand
- IHS Mccloskey Coal Group - USA
- Attock Cement Pakistan Limited
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- SMG Consultants - Indonesia
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Indika Energy - Indonesia
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Therma Luzon, Inc, Philippines
- Independent Power Producers Association of India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- Agrawal Coal Company - India
- The University of Queensland
- Latin American Coal - Colombia
- Posco Energy - South Korea
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- White Energy Company Limited
- Mercuria Energy - Indonesia
- Lanco Infratech Ltd - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Straits Asia Resources Limited - Singapore
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Edison Trading Spa - Italy
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
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