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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, 12 September 17
KOMIPO TO IMPORT 2.5 MILLION TONS OF 5700 NAR COAL FOR 5 YEARS
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 500,000 Metric Tons of Bituminous ...
Monday, 11 September 17
A PUNCHY WEEK FOR THE BIG SHIPS AS THE RATE FOR WEST AUSTRALIA TO CHINA HIT $8.00 THE FIRST TIME IN NEARLY THREE YEARS - BALTIC EXCHANGE
Capesize
A punchy week for the big ships as the rate for West Australia/China hit $8.00 the first time in nearly three years. A Jiangsu Steamship ...
Monday, 11 September 17
INDONESIAN ICPR SURGES HIGHER, POSTS BIGGEST MONTHLY RISE SINCE DECEMBER 2016, ESDM DATA SHOWS
COALspot.com: Indonesian coal benchmark price surges 9.60% in September, government data showed.
The benchmark price of Indonesian th ...
Monday, 11 September 17
KOMIPO INVITED BIDS FOR TOTAL 6.235 MMT OF 5700 AND 5100 NAR COAL FOR 2017 TO 2022 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 1,590,000 Metric Tons of Bitumino ...
Monday, 11 September 17
THE FREIGHT MARKET ROSE WEEK OVER WEEK; BCI UP 22.22% & BPI UP 14.77%
COALspot.com: The freight market rose in all segments week over week. Mainly Cape and Panamax have supported to pushed up BDI this past week, BDI, ...
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Showing 1946 to 1950 news of total 6871 |
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- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Bangladesh Power Developement Board
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Indonesian Coal Mining Association
- Bhatia International Limited - India
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Leighton Contractors Pty Ltd - Australia
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Simpson Spence & Young - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Grasim Industreis Ltd - India
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Mintek Dendrill Indonesia
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Directorate Of Revenue Intelligence - India
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Edison Trading Spa - Italy
- Ind-Barath Power Infra Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- ICICI Bank Limited - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Salva Resources Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- GN Power Mariveles Coal Plant, Philippines
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- CIMB Investment Bank - Malaysia
- Malabar Cements Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Orica Australia Pty. Ltd.
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aditya Birla Group - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- VISA Power Limited - India
- Indian Oil Corporation Limited
- Bahari Cakrawala Sebuku - Indonesia
- Straits Asia Resources Limited - Singapore
- IHS Mccloskey Coal Group - USA
- Romanian Commodities Exchange
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Coalindo Energy - Indonesia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Economic Council, Georgia
- The University of Queensland
- Jindal Steel & Power Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
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