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