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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, 07 July 17
EIA ESTIMATES SHOW U.S WEEKLY COAL PRODUCTION UP 1.7 PERCENT
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.9 million short tonn ...
Thursday, 06 July 17
SUPRAMAX: INDO TO INDIA TRIPS WITH DELIVERY THAILAND RANGE IS GIVING OWNERS AROUND MID $8000 - FEARNLEYS
Supramax
Another slow start to the week with somewhat softening rates and few fixtures.
According to Fearnleys Weekly Dry bulk report, the N ...
Thursday, 06 July 17
UNEXPECTED MOVE FROM CHINA BOOSTS COAL PRICES - OIL PRICE
Coal prices have been cooling the last few months — after a spectacular run last year. But news late last week suggests the market is about t ...
Wednesday, 05 July 17
COAL PRICES ROSE IN CHINA, JAPAN AND EUROPE IN 2016 - BP
COALspot.com: Coal prices rose in China, Japan and Europe in 2016 after four years of price declines.
According to bp, the rise in coal prices ...
Wednesday, 05 July 17
TROUBLE SEEMS TO BE LOOMING ONCE MORE IN THE STEEL INDUSTRY - GEORGE LAZARIDIS
Trouble seems to be looming once more in the steel industry as US President Trump puts forth his plans for specialist protectionist measures for th ...
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Showing 2011 to 2015 news of total 6871 |
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- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Kepco SPC Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Chettinad Cement Corporation Ltd - India
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- TeaM Sual Corporation - Philippines
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Formosa Plastics Group - Taiwan
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Sojitz Corporation - Japan
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Planning Commission, India
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- Pipit Mutiara Jaya. PT, Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Petron Corporation, Philippines
- VISA Power Limited - India
- The University of Queensland
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Bhoruka Overseas - Indonesia
- Kideco Jaya Agung - Indonesia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Simpson Spence & Young - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Standard Chartered Bank - UAE
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- International Coal Ventures Pvt Ltd - India
- CNBM International Corporation - China
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mercuria Energy - Indonesia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Bhushan Steel Limited - India
- Ministry of Transport, Egypt
- Xindia Steels Limited - India
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
- Thai Mozambique Logistica
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Ministry of Finance - Indonesia
- Gujarat Sidhee Cement - India
- Bahari Cakrawala Sebuku - Indonesia
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Malabar Cements Ltd - India
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- McConnell Dowell - Australia
- PetroVietnam Power Coal Import and Supply Company
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Electricity Generating Authority of Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parry Sugars Refinery, India
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Posco Energy - South Korea
- Australian Coal Association
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