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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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Friday, 08 September 17
MIXED SIGNALS ON REFINERY PREPARATIONS FOR 2020 FUEL CHANGES - IBIA
A recent consultancy survey has suggested that some 85% of refiners have not made plans for how to deal with the expected dramatic fall in g ...
Thursday, 07 September 17
CAPESIZE: EARNINGS FOR THE BIG SHIPS KEEP UP NICELY AS DIPS ARE MODERATE AND SHORT-LIVED - FEARNLEYS
Supramax
Fewer activities in the Atlantic in start of the week with the US holidays. Owners were asking around low USD 20k for trip ex USG to Far ...
Thursday, 07 September 17
TALK OF CONSTRAINTS ON CHINESE COAL OUTPUT PUSHED PRICES HIGHER - DANIEL HYNES
Commodity markets were largely higher as a weaker USD boosted investor appetite.
According to Daniel Hynes, Senior Commodity Strategist at ANZ ...
Wednesday, 06 September 17
LAYTIME - CHARTERERS' RIGHTS & PORT COSTS - NORTH P&I CLUB
KNOWLEDGE TO ELEVATE
In a recent London Arbitration decision (18/17) the Tribunal had to consider whether the owners were entitled to recover ...
Wednesday, 06 September 17
SHIPPING MARKET INSIGHT - STELIOS KOLLINTZAS
The impact of Hurricane Harvey, which made landfall on 25th of August in South East coastline of Texas area has been the major concern of the shipp ...
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Showing 1951 to 1955 news of total 6871 |
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- Ambuja Cements Ltd - India
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Straits Asia Resources Limited - Singapore
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- India Bulls Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Singapore Mercantile Exchange
- Posco Energy - South Korea
- Metalloyd Limited - United Kingdom
- PetroVietnam Power Coal Import and Supply Company
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- Planning Commission, India
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Indo Tambangraya Megah - Indonesia
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Bukit Baiduri Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- ASAPP Information Group - India
- Riau Bara Harum - Indonesia
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Interocean Group of Companies - India
- ICICI Bank Limited - India
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- The University of Queensland
- SMC Global Power, Philippines
- Bhoruka Overseas - Indonesia
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Bangladesh Power Developement Board
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- Medco Energi Mining Internasional
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- Australian Coal Association
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Indian Oil Corporation Limited
- Mintek Dendrill Indonesia
- San Jose City I Power Corp, Philippines
- Anglo American - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Tamil Nadu electricity Board
- White Energy Company Limited
- Merrill Lynch Commodities Europe
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Central Java Power - Indonesia
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