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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, 25 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE FOURTH WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.5 million short ton ...
Wednesday, 20 September 17
SHIPPING MARKET INSIGHT - INTERMODAL
An undoubtedly interesting market lately is the newbuilding market, in which we are witnessing numerous orders across all sectors and sizes. At the ...
Monday, 18 September 17
COAL PRICES WERE RELATIVELY UNCHANGED WEEK OVER WEEK - ANZ
COALspot.com: Coal prices were relatively unchanged, with most interest remaining in the thermal coal market said Daniel Hynes. However, falling st ...
Monday, 18 September 17
PROSPECTS ARE NOT SO CLEAR CUT FOR COAL - CLARKSONS
Prospects are not so clear-cut for coal. According to Clarksons, coal has been a key energy source since the Industrial Revolution and in 2016, ste ...
Friday, 15 September 17
U.S WEEKLY COAL OUTPUT DROPS FOR THE THIRD WEEK IN A ROW, EIA DATA SHOWS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
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Showing 1936 to 1940 news of total 6871 |
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- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Bhatia International Limited - India
- Central Electricity Authority - India
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- Sindya Power Generating Company Private Ltd
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Java Power - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Cigading International Bulk Terminal - Indonesia
- The Treasury - Australian Government
- White Energy Company Limited
- Baramulti Group, Indonesia
- Chettinad Cement Corporation Ltd - India
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Tamil Nadu electricity Board
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Goldman Sachs - Singapore
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Aditya Birla Group - India
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Heidelberg Cement - Germany
- Kepco SPC Power Corporation, Philippines
- Madhucon Powers Ltd - India
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Deloitte Consulting - India
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- McConnell Dowell - Australia
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Australian Coal Association
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Malabar Cements Ltd - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- Parliament of New Zealand
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Mintek Dendrill Indonesia
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
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