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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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- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- Xindia Steels Limited - India
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Central Java Power - Indonesia
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- Aboitiz Power Corporation - Philippines
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- ASAPP Information Group - India
- Sojitz Corporation - Japan
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Aditya Birla Group - India
- White Energy Company Limited
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Heidelberg Cement - Germany
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- IEA Clean Coal Centre - UK
- Eastern Energy - Thailand
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Australian Coal Association
- Siam City Cement PLC, Thailand
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- The Treasury - Australian Government
- Alfred C Toepfer International GmbH - Germany
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- SN Aboitiz Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
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