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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, 14 August 17
THE FREIGHT MARKET CONTINUES ON AN UPWARD PATH
COALspot.com: The freight market was continued to rose this past week compared to the previous week, as BDI, Cape and Panamax indexes show a positi ...
Monday, 14 August 17
IN A PARIS AGREEMENT WORLD, COAL WILL MEET GROWING ASIAN ENERGY NEEDS - BENJAMIN SPORTON
When providing 41% of the world’s electricity, 85% of global cement, 74% of the world’s steel and 60% of the world’s aluminum, co ...
Friday, 11 August 17
KOMIPO INVITES COAL BIDS FOR BORYEONG POWER PLANT
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued an another new tender for total 1,280,000 Metric Tons of Bitumino ...
Friday, 11 August 17
U.S WEEKLY COAL OUTPUT ALMOST FLAT WEEK OVER WEEK, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
Thursday, 10 August 17
GLOBAL COAL PRODUCTION FELL SIGNIFICANTLY IN 2016 - IEA
COALspot.com: Global coal production fell significantly in 2016, while global trade in natural gas was up. These are two of the key messages in Wor ...
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Showing 1971 to 1975 news of total 6871 |
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- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Thai Mozambique Logistica
- LBH Netherlands Bv - Netherlands
- Sical Logistics Limited - India
- New Zealand Coal & Carbon
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Independent Power Producers Association of India
- Wilmar Investment Holdings
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Georgia Ports Authority, United States
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Kartika Selabumi Mining - Indonesia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Economic Council, Georgia
- Bahari Cakrawala Sebuku - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Goldman Sachs - Singapore
- Mercator Lines Limited - India
- Billiton Holdings Pty Ltd - Australia
- Medco Energi Mining Internasional
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- Heidelberg Cement - Germany
- Toyota Tsusho Corporation, Japan
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Binh Thuan Hamico - Vietnam
- Edison Trading Spa - Italy
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- PowerSource Philippines DevCo
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- The Treasury - Australian Government
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Orica Australia Pty. Ltd.
- Thiess Contractors Indonesia
- SN Aboitiz Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Trasteel International SA, Italy
- London Commodity Brokers - England
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- The State Trading Corporation of India Ltd
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