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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, 17 October 17
SULPHUR 2020: COMING, READY OR NOT - ALIBRA SHIPPING
Some 70% of shipping companies surveyed say they do not believe the industry is ready for IMO’s 2020 deadline, when a global limit of 0.5% su ...
Tuesday, 17 October 17
U.S RECORD EXPORTS OIL TO EAST HAS HELPED THE TANKER TRADE - GEORGE LAZARIDIS
There was a flood of fresh news this week which clouded the overall prospects of the crude oil market. Just one week prior Saudi Arabia and Russia, ...
Monday, 16 October 17
INDONESIA TO INDIA COAL FREIGHT RATES STAY FIRM
COALspot.com: The daily average earnings for Supramax, for the route Indonesia to India passing through Singapore has stayed firm, week over week, ...
Friday, 13 October 17
INDIKA ENERGY SIGNS SHARE PURCHASE AGREEMENTS FOR AN ADDITIONAL 45% STAKE IN KIDECO
PT Indika Energy Tbk. and its wholly-owned subsidiary PT Indika Inti Corpindo (collectively, “Indika Energy”) has entered into separate ...
Friday, 13 October 17
THE SHORT-TERM OUTLOOK FOR THE PANAMAX MARKET REMAIN POSITIVE - FEARNLEYS
Supramax
The market has picked up strongly since last week with the Chinese holidays. In the Pacific rates are increasing with some strong number ...
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Showing 1911 to 1915 news of total 6871 |
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Eastern Energy - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- Coalindo Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- Planning Commission, India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- Rashtriya Ispat Nigam Limited - India
- Thai Mozambique Logistica
- Aditya Birla Group - India
- PetroVietnam Power Coal Import and Supply Company
- CIMB Investment Bank - Malaysia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- VISA Power Limited - India
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Gujarat Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Vijayanagar Sugar Pvt Ltd - India
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Economic Council, Georgia
- Independent Power Producers Association of India
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Sarangani Energy Corporation, Philippines
- Sical Logistics Limited - India
- PNOC Exploration Corporation - Philippines
- Parry Sugars Refinery, India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- Rio Tinto Coal - Australia
- Kumho Petrochemical, South Korea
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- London Commodity Brokers - England
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Parliament of New Zealand
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Orica Australia Pty. Ltd.
- Semirara Mining and Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
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