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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, 04 May 17
SUPRAMAX: INDO COAL ROUNDS LEVELS WITH DELIVERY CHINA IS TRADING AROUND LOW $6K, TRIP BACK TO CHINA
Supramax
The short week brought weaker rates across all routes. Supras from USG to Japan were fixed around $19-20 k daily and from ECSA to ECI $1 ...
Wednesday, 03 May 17
MALAYSIA SEEMS AS BIGGEST ADARO COAL IMPORTER IN Q1' 17
COALspot.com: In 1Q17, 30% of Adaro's sales went to Indonesia, the data from unaudited consolidated financial statement shows.
Malaysia ca ...
Wednesday, 03 May 17
MARKET INSIGHT - STELIOS KOLLINTZAS
The overall performance of each sector within the edible oil markets has remained poor for the past weeks. Apart from the veg oil exports fro ...
Tuesday, 02 May 17
THE FREIGHT MARKET CONTINUE TO SLUMP THIS PAST WEEK
COALspot.com: The Freight market continues to slump this past week, as all segments except Handy Size show a negative downward trend.
The Balt ...
Friday, 28 April 17
U.S PRODUCED LESS COAL THIS PAST WEEK COMPARED TO THE PREVIOUS WEEK - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totaled an estimated 14 million short tons ( ...
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- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Dalmia Cement Bharat India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Kepco SPC Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Georgia Ports Authority, United States
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Central Electricity Authority - India
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Cement Manufacturers Association - India
- International Coal Ventures Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Australian Coal Association
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- VISA Power Limited - India
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- Borneo Indobara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Carbofer General Trading SA - India
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- Bhoruka Overseas - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Planning Commission, India
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Semirara Mining Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Ministry of Mines - Canada
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Oldendorff Carriers - Singapore
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Indika Energy - Indonesia
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Renaissance Capital - South Africa
- Gujarat Mineral Development Corp Ltd - India
- Goldman Sachs - Singapore
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Wilmar Investment Holdings
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- ASAPP Information Group - India
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Vijayanagar Sugar Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Binh Thuan Hamico - Vietnam
- Eastern Coal Council - USA
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- MS Steel International - UAE
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Kumho Petrochemical, South Korea
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bharathi Cement Corporation - India
- Marubeni Corporation - India
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Savvy Resources Ltd - HongKong
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- PTC India Limited - India
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Sinarmas Energy and Mining - Indonesia
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