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