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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, 05 September 17
COAL: A STRONG MOVEMENT IN THE COAL MARKET OVER THE SUMMER MONTHS - GEORGE LAZARIDIS
We have been witnessing a strong movement in the coal market over the summer months something that has not only helped boost prices for the commodi ...
Friday, 01 September 17
U.S COAL OUTPUT DIPS WEEK OVER WEEK, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 31 August 17
SUPRAMAX: INDO TO CHINA COAL TRIPS AT AROUND $9000, DELIVERY THAILAND - FEARNLEYS
Supramax
A bit slow start to the week with UK holidays on Monday. Still strong rates for cargoes out of Black Sea, where front hauls where done $ ...
Tuesday, 29 August 17
WEEKLY SHIPPING MARKET ANALYSIS - ALLIED
In the aftermath of Hurricane Harvey, one of the worst disasters to hit Texas, we are now looking to get a clearer picture of the possible disrupti ...
Tuesday, 29 August 17
U.S WEEKLY COAL OUT UP 3.4% WEEK OVER WEEK TO APPROX. 17 MMST, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tonne ...
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Showing 1956 to 1960 news of total 6871 |
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- Indian Energy Exchange, India
- Ministry of Mines - Canada
- CNBM International Corporation - China
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Merrill Lynch Commodities Europe
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- SMG Consultants - Indonesia
- Africa Commodities Group - South Africa
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Planning Commission, India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Anglo American - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhoruka Overseas - Indonesia
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- Attock Cement Pakistan Limited
- Intertek Mineral Services - Indonesia
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Tata Chemicals Ltd - India
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Mercator Lines Limited - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Videocon Industries ltd - India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Kobexindo Tractors - Indoneisa
- India Bulls Power Limited - India
- The University of Queensland
- International Coal Ventures Pvt Ltd - India
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- Australian Commodity Traders Exchange
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Global Business Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Price Waterhouse Coopers - Russia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Generating Authority of Thailand
- Siam City Cement PLC, Thailand
- San Jose City I Power Corp, Philippines
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Link Ltd, New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Commonwealth Bank - Australia
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- Barasentosa Lestari - Indonesia
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