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