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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, 30 June 17
U.S. WEEKLY COAL OUTPUT SLIGHTLY DOWN
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.6 million short tonn ...
Wednesday, 28 June 17
SHIPPING MARKET INSIGHT - TIMOS PAPADIMITRIOU
From the beginning of the year until now SnP activity has changed significantly. To put things into perspective, after a fast and furious q1 on the ...
Monday, 26 June 17
PANAMAX/KAMARMAXES HAD A STRONG WEEK WITH RATES RISING IN MOST AREAS OF THE MARKET - BALTICEXCHANGE
Capesize
A dark cloud appeared to have descended over the market for the big ships with rates continuing to slide in all areas. There was a repor ...
Friday, 23 June 17
U.S. WEEKLY COAL PRODUCTION TOTALED APPROXIMATELY 15.8 MMST; UP 1.8% W/W
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 15.8 million short tonn ...
Wednesday, 21 June 17
MARKET INSIGHT - SHIPPING
Looking back at March and April shipping reports when the dry bulk indexes were starting to move up, a number of shipping analysts were stating tha ...
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Showing 2016 to 2020 news of total 6871 |
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- ICICI Bank Limited - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- TeaM Sual Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Kepco SPC Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- India Bulls Power Limited - India
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Indogreen Group - Indonesia
- Global Business Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Minerals Council of Australia
- London Commodity Brokers - England
- Economic Council, Georgia
- Pipit Mutiara Jaya. PT, Indonesia
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Romanian Commodities Exchange
- Posco Energy - South Korea
- Aboitiz Power Corporation - Philippines
- Mercator Lines Limited - India
- Bayan Resources Tbk. - Indonesia
- Energy Link Ltd, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Ministry of Finance - Indonesia
- Barasentosa Lestari - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- PTC India Limited - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Latin American Coal - Colombia
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- Australian Coal Association
- Thai Mozambique Logistica
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Samtan Co., Ltd - South Korea
- IHS Mccloskey Coal Group - USA
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- Intertek Mineral Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Siam City Cement PLC, Thailand
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Dalmia Cement Bharat India
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Africa Commodities Group - South Africa
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Kideco Jaya Agung - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- South Luzon Thermal Energy Corporation
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Metalloyd Limited - United Kingdom
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
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