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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, 04 August 17
U.S. WEEKLY COAL OUTPUT UP 4.4% W/W - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 16.1 million short tonn ...
Friday, 04 August 17
IMPORTED COAL CONTINUES TO BE A COMPETITIVE, SAFE AND RELIABLE ENERGY SOURCE FOR GERMANY - VDKI
COALspot.com: Worldwide hard coal production in 2016 declined by 3.8% to 6.7 billion tonnes.
According to the Germany Coal Importers Associati ...
Thursday, 03 August 17
SUPRAMAX: INDO TO CHINA COAL ROUNDS ARE GETTING FIXED AROUND MID $8000 - FEARNLEYS
In the Pacific rates have remained weak and under pressure this week with most routes softening.
Indo/China coal rounds are getting fixed arou ...
Thursday, 03 August 17
BUMI RESOURCES COAL SALES RELATIVELY FLAT AT 41.5 MILLION TONS IN 1H' 17; REPORTS US$162.3 MILLION PROFIT IN FIRST SEMESTER
COALspot.com: The BUMI Resources, Indonesia’s one of the largest coal producer, has reported a net income of $162.3 million in 1H’ 17 c ...
Wednesday, 02 August 17
SHIPPING MARKET INSIGHT - GIANNIS ANDRITSOPOULOS
During the duration of the first half of the year, the dry bulk market saw intense buying interest that boosted SnP prices significantly. We saw a ...
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Showing 1986 to 1990 news of total 6871 |
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- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhushan Steel Limited - India
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- PTC India Limited - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Bulk Trading Sa - Switzerland
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- Latin American Coal - Colombia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Tamil Nadu electricity Board
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The University of Queensland
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Trasteel International SA, Italy
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- The Treasury - Australian Government
- Barasentosa Lestari - Indonesia
- India Bulls Power Limited - India
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Vedanta Resources Plc - India
- Mercuria Energy - Indonesia
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Heidelberg Cement - Germany
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Australian Coal Association
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Port Waratah Coal Services - Australia
- Madhucon Powers Ltd - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- ASAPP Information Group - India
- Oldendorff Carriers - Singapore
- Jaiprakash Power Ventures ltd
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Therma Luzon, Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ind-Barath Power Infra Limited - India
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- VISA Power Limited - India
- Eastern Energy - Thailand
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Planning Commission, India
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Metalloyd Limited - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Maheswari Brothers Coal Limited - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- GAC Shipping (India) Pvt Ltd
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Ambuja Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
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