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