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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, 08 August 16
THE BALTIC EXCHANGE, TRACKING RATES FOR SHIPS CARRYING DRY BULK COMMODITIES SLIDE SLIGHTLY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Panamax and Supramax segments ending in ...
Monday, 08 August 16
ARE EXPENSES INCURRED DURING NEGOTIATION OF A PIRATE RANSOM RECOVERABLE IN GENERAL AVERAGE? - CLYDE&CO
KNOWLEDGE TO ELEVATE
Facts
The laden chemical tanker LONGCHAMP was transiting the Gulf of Aden on passage to Vietnam. The ship was subject t ...
Saturday, 06 August 16
DRY BULK SHIPPING CHARTER RATES TO RISE ON UNEXPECTED DEMAND GROWTH - DREWRY
Increasing trade and contracting supply will support a recovery in charter rates on major dry bulk shipping routes, with the prospect of China impo ...
Friday, 05 August 16
WEEKLY U.S. COAL OUTPUT TOTALED AN ESTIMATED 16.1 MMST IN THE WEEK ENDED JULY 30 - EIA
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 16.1 million short tons ...
Friday, 05 August 16
CAPESIZE : RATES ARE REMAINING AT DEPRESSING LEVELS DUE TO LACK OF FRESH CARGOES - FEARNLEYS
Supramax
Last week has been one of the slowest for some time with rates under pressure in most areas.
In its latest weekly report, shipbroke ...
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- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- McConnell Dowell - Australia
- TNB Fuel Sdn Bhd - Malaysia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- IHS Mccloskey Coal Group - USA
- Directorate General of MIneral and Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Coal and Oil Company - UAE
- Indian Oil Corporation Limited
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Eastern Coal Council - USA
- Samtan Co., Ltd - South Korea
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- PTC India Limited - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Malabar Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Heidelberg Cement - Germany
- Tata Chemicals Ltd - India
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Oldendorff Carriers - Singapore
- Thiess Contractors Indonesia
- Siam City Cement PLC, Thailand
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Global Coal Blending Company Limited - Australia
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Parliament of New Zealand
- Aditya Birla Group - India
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Singapore Mercantile Exchange
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- Ambuja Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Pipit Mutiara Jaya. PT, Indonesia
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- The University of Queensland
- Renaissance Capital - South Africa
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bharathi Cement Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Antam Resourcindo - Indonesia
- Commonwealth Bank - Australia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
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