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Wednesday, 24 August 16
DRY BULK VESSELS FACE CONTINUED DISTRESS - CLEAR ASSET
 Dry bulk vessels have faced extreme distress in recent years. With a combination of factors including newer vessels being ordered with up to 5-year lead times and oil and commodity prices falling globally, owners have been left in precarious waters. Many did not anticipate the crash of commodities followed by oil falling to new lows (spot Brent at $45 a barrel) making it even more difficult to service either debt on existing vessels and associated dry dock fees, or to actually take ownership of their new vessels. As such, there is too much old tonnage on the waters floating around that warrant maintenance and work, compounded with many unclaimed new vessels awaiting transfer of ownership.
Banks have long held out on calling in such debts and preferred to explore restructured payment terms. This was evident with major banks who have inadvertently falsely propped up the Panamax market and slightly smaller bulk carrier vessels by extending finance terms rather than facing negative equity and repossessing the vessel.
Regretfully many of these decisions simply delayed the inevitable and by the time arrests or repossessions took place, the market had fallen even further. In the last 6 months alone, leading African auction house Clear Asset who specialize in commercial maritime and mining assets, have disposed of 4 such carriers. The vessels ranged in size from 7,000 tons up to 80,000 gross tons.
Comments Clear Asset MD Ariella Kuper, “It has been interesting to see that despite a depressed market the bidding has proven extremely strong, with parties from as far as Greece, Cyprus, Abu Dhabi, UK, Liberia, West Africa and Singapore bidding competitively. The auction sale of two recent ships, the mv Sadan K and mv Zeyenp K, both 80,000 GRT, achieved $1 million above reserve for each. A smaller 8,400 GRT, the mv Giuliana with 7,222 max draft, achieved $1.65 million which was $250,000 above reserve.”
South Africa has become a global player for arrested vessels and is attracting strong bidding appetite from abroad. The prices being paid are based on free market demand and supply, and with competitive bidding it is a fair indication of the value that the market places. What is strong to witness is the new players entering the ship trading game, who are in a financial position to settle payment within 5 days votes toets.
Adds Kuper, “Out of adversity comes opportunity for a new generation of maritime players to enter the game with a more sophisticated 21st century understating of prevailing market conditions.’’
Source: Clear Asset | Hellenic Shipping News
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Friday, 02 September 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 19 MMST IN 2016 TO 55 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million sho ...
Thursday, 01 September 16
SUPRAMAX GETTING LEVELS OF MID/HIGHER 7K DELIVERY SINGAPORE FOR TRIPS TO CHINA AND AROUND 9K FOR DIRECTION INDIA - FEARNLEYS
Supramax
This week started slower with London on bank holiday Monday. The south east Asian market seems to have been taking a breather with chart ...
Thursday, 01 September 16
AUSTRALIA'S NEWCASTLE PORT SHIPPED 2.33 PERCENT MORE COAL IN JULY
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.10 bill ...
Wednesday, 31 August 16
THE DRY BULK MARKET MANAGED TO FIND FURTHER SUPPORT DURING THE LAST DAYS OF THE SUMMER SEASON - INTERMODAL
The Dry Bulk market managed to find further support during the last days of the summer season, with the BDI climbing above 700 last Friday, reachin ...
Tuesday, 30 August 16
THE SUDDEN SURGE IN IRON ORE TRADE HAS CREPT UP ON THE MARKET THIS PAST WEEK - GEORGE LAZARIDIS
The sudden surge in Iron ore trade has crept up on the market this past week bringing about a change in the prospects for Capes. Continued increase ...
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- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- European Bulk Services B.V. - Netherlands
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Trasteel International SA, Italy
- LBH Netherlands Bv - Netherlands
- Romanian Commodities Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Standard Chartered Bank - UAE
- Manunggal Multi Energi - Indonesia
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Interocean Group of Companies - India
- Deloitte Consulting - India
- PTC India Limited - India
- PowerSource Philippines DevCo
- Bulk Trading Sa - Switzerland
- Singapore Mercantile Exchange
- Vizag Seaport Private Limited - India
- GMR Energy Limited - India
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Price Waterhouse Coopers - Russia
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Siam City Cement - Thailand
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Vedanta Resources Plc - India
- Directorate Of Revenue Intelligence - India
- White Energy Company Limited
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Medco Energi Mining Internasional
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- The University of Queensland
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Star Paper Mills Limited - India
- Meenaskhi Energy Private Limited - India
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Semirara Mining and Power Corporation, Philippines
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- Simpson Spence & Young - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- Sindya Power Generating Company Private Ltd
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- Timah Investasi Mineral - Indoneisa
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- TeaM Sual Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- VISA Power Limited - India
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Malabar Cements Ltd - India
- Semirara Mining Corp, Philippines
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Indian Energy Exchange, India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
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