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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, 12 August 16
U.S. WEEKLY COAL OUTPUT ENDING AUGUST 6 FELL SLIGHTLY
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.9 million short ton ...
Thursday, 11 August 16
CAPESIZE THE PACIFIC SIDE IS LOOKING MORE POSITIVE, DRIVEN BY AUSTRALIAN IRON ORE - FEARNLEYS
Supramax
Rates continue to be under pressure with index ending up with 639 points and average TC value at USD6,680, said Fearnleys. Fearnleys A/S ...
Thursday, 11 August 16
EIA ESTIMATES THE DELIVERED COAL PRICE TO U.S. ELECTRIC UTILITIES IN 2017 AVERAGED $2.24/MMBTU; $0.05/MMBTU HIGHER THAN 2016 ESTIMATES
Coal Supply
U.S. coal production in July was 65 million short tons (MMst), an 8 MMst (14%) increase from the previous month but 11 MMst (15%) low ...
Wednesday, 10 August 16
THE DRY BULK MARKET KEPT SOFTENING LAST WEEK; WE CAN SEE MUCH HEALTHIER NUMBERS STARTING SEPTEMBER
The Dry Bulk market kept softening last week as we have now started going through the traditionally quieter days of the summer season peak period, ...
Wednesday, 10 August 16
THE INDONESIAN DRAFT NEW MINING LAW - AMENDMENTS TO THE 2009 MINING LAW
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
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- Sinarmas Energy and Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- GAC Shipping (India) Pvt Ltd
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Baramulti Group, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Globalindo Alam Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Meenaskhi Energy Private Limited - India
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Sakthi Sugars Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Antam Resourcindo - Indonesia
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Attock Cement Pakistan Limited
- Price Waterhouse Coopers - Russia
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Medco Energi Mining Internasional
- Jindal Steel & Power Ltd - India
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- ICICI Bank Limited - India
- Indonesian Coal Mining Association
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Eastern Energy - Thailand
- Bayan Resources Tbk. - Indonesia
- Borneo Indobara - Indonesia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- PowerSource Philippines DevCo
- Savvy Resources Ltd - HongKong
- Chettinad Cement Corporation Ltd - India
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Maheswari Brothers Coal Limited - India
- Parliament of New Zealand
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Iligan Light & Power Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- Indika Energy - Indonesia
- Videocon Industries ltd - India
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
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