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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, 03 October 17
RIO TINTO COMPLETES FIRST FULLY AUTONOMOUS RAIL JOURNEY IN WESTERN AUSTRALIA
Rio Tinto has successfully completed the first fully autonomous rail journey at its iron ore operations in the Pilbara region of Western Australia ...
Tuesday, 03 October 17
ALLIED MARKET ANALYSIS
It seems as though the future of the oil trade was once again put into the spotlight, as the Asia Pacific Petroleum Conference took place last week ...
Friday, 29 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FIFTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 14.7 million short ...
Thursday, 28 September 17
SUPRAMAX: S.CHINA TRIP TO INDIA HAS BEEN FIXED AT AROUND US$ 11000 - FEARNLEYS
Supramax
The hot market seen the last weeks in the Pacific has softened as the Golden week holiday in China approaches and the October shipments ...
Thursday, 28 September 17
THE 'UNREASONABLE' COST OF CASUALTY REPAIRS: ASSOCIATION OF AVERAGE ADJUSTERS CHAIRMAN DETAILS CLAIMS DILEMMAS
KNOWLEDGE TO ELEVATE
The ‘unreasonable’ cost of casualty repairs: Association of Average Adjusters chairman details claims dilemma ...
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Showing 1926 to 1930 news of total 6871 |
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- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- TNB Fuel Sdn Bhd - Malaysia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Sojitz Corporation - Japan
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- PTC India Limited - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Altura Mining Limited, Indonesia
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Grasim Industreis Ltd - India
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- McConnell Dowell - Australia
- Deloitte Consulting - India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Thai Mozambique Logistica
- IHS Mccloskey Coal Group - USA
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Central Java Power - Indonesia
- Gujarat Sidhee Cement - India
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Banpu Public Company Limited - Thailand
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Agrawal Coal Company - India
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Iligan Light & Power Inc, Philippines
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Vedanta Resources Plc - India
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Malabar Cements Ltd - India
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Australian Coal Association
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