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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 $250,000 above reserve.”
South Africa has become a global player for arrested vessels and is attracting strong bidding appetite from abroad. The prices being paid are based on free market demand and supply, and with competitive bidding it is a fair indication of the value that the market places. What is strong to witness is the new players entering the ship trading game, who are in a financial position to settle payment within 5 days votes toets.
Adds Kuper, “Out of adversity comes opportunity for a new generation of maritime players to enter the game with a more sophisticated 21st century understating of prevailing market conditions.’’
Source: Clear Asset | Hellenic Shipping News
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Thursday, 04 August 16
INDONESIAN COAL PRICES ARE STARTING TO ZOOM HIGHER; HBA ROSE 10.13% TO US$ 58.37 PER TON
COALspot.com: The Indonesia coal benchmark price hits to its highest level since August 2015.
The Director General of Mineral and Coa ...
Thursday, 04 August 16
BREXIT: IMPLICATIONS FOR GLOBAL SHIPPING AND SEA TRADE - EVERSHEDS
The buzzword for the post-Brexit landscape both in Europe and further afield is ‘uncertainty’. No-one really knows the long term effect ...
Wednesday, 03 August 16
RECAAP INFORMATION SHARING CENTRE ISSUES SPECIAL REPORT ON THE ABDUCTING OF CREW FROM SHIPS IN WATERS OFF EASTERN SABAH AND SOUTHERN PHILIPPINES - THE STANDARD CLUB
KNOWLEDGE TO ELEVATE
In the light of three incidents where the crew of tug boats were abducted in the waters off Eastern Sabah and Southern Ph ...
Wednesday, 03 August 16
SHIPPING MARKET INSIGHT - EVA TZIMA
The Good…
Demand. Amidst all the unprecedented geopolitical turmoil and shifts in the likes of Brexit, the IMF lowered last month its glob ...
Wednesday, 03 August 16
SHIP TRADING AND ORDERING CLOSE TO A STALEMATE AS SUMMER LULL KICKS IN
With newbuilding activity already at a near standstill since the start of the year, most of 2016’s trading activity in shipping was evident i ...
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- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Aboitiz Power Corporation - Philippines
- Gujarat Sidhee Cement - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bhatia International Limited - India
- PTC India Limited - India
- White Energy Company Limited
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Formosa Plastics Group - Taiwan
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Videocon Industries ltd - India
- Parliament of New Zealand
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Xindia Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- The Treasury - Australian Government
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Binh Thuan Hamico - Vietnam
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Mintek Dendrill Indonesia
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- ASAPP Information Group - India
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Minerals Council of Australia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- MS Steel International - UAE
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Singapore Mercantile Exchange
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Pendopo Energi Batubara - Indonesia
- Port Waratah Coal Services - Australia
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Ceylon Electricity Board - Sri Lanka
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Finance - Indonesia
- Georgia Ports Authority, United States
- Kideco Jaya Agung - Indonesia
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Tata Chemicals Ltd - India
- Karaikal Port Pvt Ltd - India
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Aditya Birla Group - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
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