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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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Thursday, 13 July 17
SUPRAMAX: NICKEL ORE TRIPS TO CHINA VIA PHILIPPINES WITH DELIVERY S. CHINA IS PAYING AROUND MID $9000 - FEARNLEYS
Supramax
COALspot.com: Another slow start to the week with somewhat softening rates and few fixtures.
Nickel Ore trips to China via the Phil ...
Wednesday, 12 July 17
COAL HAS CONTINUED A STELLAR RUN OVER THE PAST YEAR GAINING ~10% OVER THE PAST QUARTER AND ~41% OVER THE PAST YEAR - LINOS KOGEVINAS
Having just passed the second quarter of 2017, it is interesting to take a look at the performance of the commodity market and how certain commodit ...
Monday, 10 July 17
A ROLLERCOASTER YEAR FOR COAL PRICES; ICPR ROSE 4.62% M/M
COALspot.com: Indonesian coal benchmark price rose 4.62% in July, government data showed.
The benchmark price of Indonesian thermal c ...
Monday, 10 July 17
THE FREIGHT MARKET WAS SHOWS A NEGATIVE TREND WEEK OVER WEEK
COALspot.com: The Freight market decline this past week compared to the previous week, as BDI and Cape indexes show a negative trend week over week ...
Friday, 07 July 17
SHOULD WE BE AVOIDING GENERAL AVERAGE? - ALEX KEMP
KNOWLEDGE TO ELEVATE
Calls for general average to be abolished are nearly as old as the regime itself. A representative of Lloyd’s atten ...
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Showing 2006 to 2010 news of total 6871 |
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- TeaM Sual Corporation - Philippines
- GVK Power & Infra Limited - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Interocean Group of Companies - India
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Finance - Indonesia
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Link Ltd, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Aboitiz Power Corporation - Philippines
- GAC Shipping (India) Pvt Ltd
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Riau Bara Harum - Indonesia
- Indian Energy Exchange, India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Electricity Authority, New Zealand
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Ministry of Transport, Egypt
- MS Steel International - UAE
- Neyveli Lignite Corporation Ltd, - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Siam City Cement - Thailand
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chettinad Cement Corporation Ltd - India
- San Jose City I Power Corp, Philippines
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Singapore Mercantile Exchange
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Kapuas Tunggal Persada - Indonesia
- Attock Cement Pakistan Limited
- Heidelberg Cement - Germany
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Banpu Public Company Limited - Thailand
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Bukit Makmur.PT - Indonesia
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Kumho Petrochemical, South Korea
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Antam Resourcindo - Indonesia
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- Global Coal Blending Company Limited - Australia
- SMC Global Power, Philippines
- Altura Mining Limited, Indonesia
- Dalmia Cement Bharat India
- New Zealand Coal & Carbon
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- Salva Resources Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
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