Qatari commodity export costs to rise as UAE port ban disrupts trading

6 Jun 2017   Qatar

An Eikon ship-tracking screen shows tanker traffic around Qatar over the last seven days in this June 6, 2017 illustration photo. The costs of Qatari energy and commodity exports are likely to rise as the United Arab Emirates’ ban on Qatari vessels cuts the ships off from the region’s main refueling port, forcing ships to sail further for fuel or pay higher prices. Saudi Arabia and the UAE, along with Egypt, Yemen and Bahrain, on Monday cut diplomatic ties with Qatar amid accusations the country supported terrorists. The Arab allies are applying many economic pressure points, including barring Qatari flagged ships from entering their waters. Around half a dozen oil, chemical and liquefied natural gas (LNG) tankers coming from Qatar have left UAE waters or halted in the open ocean instead of docking in the UAE or Saudi Arabia as planned, according to shipping data in Thomson Reuters Eikon. […]

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