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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, 31 July 17
KOMIPO INVITES BIDS FOR 750K MT OF 5,700 KCAL/KG NAR COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 750,000 Metric Tons of Bituminous coal for its B ...
Monday, 31 July 17
THE PORT OF NEWCASTLE SHIPPED 17.08 PERCENT LESS COAL IN JUNE 2017 COMPARED TO ITS MAY LOADING
COALspot.com: The Port of Newcastle, Australia’s major trading ports, and the world’s largest coal export port has shipped $AU 1,442.8 ...
Monday, 31 July 17
THE FREIGHT MARKET DECLINE THIS PAST WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Panamax indexes show a negative trend week over w ...
Friday, 28 July 17
U.S. WEEKLY COAL PRODUCTION UP 1.4% WEEK OVER WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.5 million short tonn ...
Thursday, 27 July 17
CAMPBELL SHIPPING APPOINTS ISS FOR GLOBAL HUSBANDRY REPRESENTATION SERVICES CONTRACT - ISS
COALspot.com: Inchcape Shipping Services (ISS) is delighted to announce that it has secured a global husbandry representation contract with Campbel ...
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Showing 1991 to 1995 news of total 6871 |
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- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Africa Commodities Group - South Africa
- Vedanta Resources Plc - India
- Semirara Mining and Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Coastal Gujarat Power Limited - India
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Orica Mining Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Leighton Contractors Pty Ltd - Australia
- Parliament of New Zealand
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Planning Commission, India
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- The Treasury - Australian Government
- Maheswari Brothers Coal Limited - India
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Baiduri Energy - Indonesia
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sakthi Sugars Limited - India
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