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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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Monday, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
Monday, 29 August 16
THE FREIGHT MARKET WAS STEADY AND FIRM THIS PAST WEEK; BCI ROSE 18.74%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 26 August 16
WEEKLY US COAL OUTPUT UP 0.7% W/W TO 16 MMST: EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Thursday, 25 August 16
SUPRAMAXES ARE BEING FIXED IN REGION OF $9000
Supramax
Due to Chinese coal imports which continues to source much of the tonnage in SE Asia combined with a good flow of mineral exports ex Aus ...
Wednesday, 24 August 16
MARKET INSIGHT
Brazil and the world bid farewell on Sunday to the first Olympic Games in South America in the midst of a finale meant to be both one last bash and ...
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Showing 2306 to 2310 news of total 6871 |
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- IEA Clean Coal Centre - UK
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Marubeni Corporation - India
- The University of Queensland
- Chettinad Cement Corporation Ltd - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Banpu Public Company Limited - Thailand
- The State Trading Corporation of India Ltd
- Interocean Group of Companies - India
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ind-Barath Power Infra Limited - India
- Sakthi Sugars Limited - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Medco Energi Mining Internasional
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Xindia Steels Limited - India
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Standard Chartered Bank - UAE
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Attock Cement Pakistan Limited
- Goldman Sachs - Singapore
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- GN Power Mariveles Coal Plant, Philippines
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Holcim Trading Pte Ltd - Singapore
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Edison Trading Spa - Italy
- Mjunction Services Limited - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Global Business Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Tata Chemicals Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Independent Power Producers Association of India
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Commonwealth Bank - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Economic Council, Georgia
- Borneo Indobara - Indonesia
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement - Thailand
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