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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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Thursday, 14 September 17
THE FIRM COAL TRADE IS SUPPORTING SUPRAS; FIXING AROUND LOW $13000 WITH DELIVERY THAILAND - FEARNLEYS
Supramax
This week has brought Supras firm rates and numerous orders. Scrap orders from Cont to Med still pay $11000 and Fertilizer from Baltic t ...
Thursday, 14 September 17
KOMIPO INVITED BIDS FOR 5700 NAR BITUMINOUS COAL FOR BORYEONG POWER PLANT; 390K MT FOR NOV LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for 390,000 Metric Tons of Bituminous coal ...
Wednesday, 13 September 17
U.S. COAL EXPORTS FOR THE FIRST SIX MONTHS OF 2017 WERE 55% HIGHER COMPARED TO THE SAME PERIOD IN 2016 - EIA
COALspot.com: EIA expects the share of U.S. total utility-scale electricity generation from natural gas to fall from an average of 34% in 2016 to a ...
Wednesday, 13 September 17
SOME THOUGHTS ON NORTH KOREA, US & CHINA - THEODORE NTALAKOS
The trade volume between North Korea and China is more than $5 billion per year. 83% of North Korea's exports end up in China; similarly, about ...
Tuesday, 12 September 17
NEWCASTLE FOB PRICES ROSE STRONGLY AND ARE NOW THREATENING TO BREAK THROUGH US$100/T - DANIEL HYNES
COALspot.com: The rise in crude oil market supported further gains in thermal coal, says Daniel Hynes Senior Commodity Strategist at ANZ.
Acco ...
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Showing 1941 to 1945 news of total 6871 |
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- Therma Luzon, Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Coastal Gujarat Power Limited - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Electricity Generating Authority of Thailand
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- Australian Coal Association
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Latin American Coal - Colombia
- Global Green Power PLC Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Parliament of New Zealand
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Parry Sugars Refinery, India
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- GVK Power & Infra Limited - India
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- Borneo Indobara - Indonesia
- Sojitz Corporation - Japan
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coalindo Energy - Indonesia
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Intertek Mineral Services - Indonesia
- Kumho Petrochemical, South Korea
- Planning Commission, India
- Trasteel International SA, Italy
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- White Energy Company Limited
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Madhucon Powers Ltd - India
- PTC India Limited - India
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- Maharashtra Electricity Regulatory Commission - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Indika Energy - Indonesia
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Toyota Tsusho Corporation, Japan
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Altura Mining Limited, Indonesia
- Vizag Seaport Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Transport, Egypt
- Aboitiz Power Corporation - Philippines
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Iligan Light & Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- McConnell Dowell - Australia
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
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