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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, 28 July 16
LAST WEEK ENDING UP WITH BUSIER TONES FOR SUPRAMAXES NOW COOLING DOWN - FEARNLEYS
Supramax
Last week ending up with busier tones for Supramaxes now cooling down as with index being down to 684. Average daily earnings for Supram ...
Wednesday, 27 July 16
RATES FOR THE SMALLER SIZES OVER-PERFORMED THE MARKET LAST WEEK - INTERMODAL
The decline the BDI noted last week was somewhat expected given the fact that the market has been overall firming for almost a month no ...
Wednesday, 27 July 16
GLOBAL OIL SUPPLY IS EXPECTED TO REMAIN HIGHER THAN GLOBAL CONSUMPTION IN 2016 - CHRISTOPHER WHITTY
Global oil supply is expected to remain higher than global consumption in 2016, keeping oil prices at relatively low levels this summer compared wi ...
Tuesday, 26 July 16
NORTH P&I CLUB EXPLAINS HOW TO AVOID CLAIMS FOR SELF-COOKING SOYA BEANS
KNOWLEDGE TO ELEVATE
North P&I Club has advised its members to be extra vigilant during loading and transport of soya beans to ensure they ...
Monday, 25 July 16
STRONG BUYER DEMAND PUSHING UP INDONESIAN THERMAL COAL INDICES
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 0.73 percent week over week to averaging $40.83 per ton this past week, shows C ...
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- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Sinarmas Energy and Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Edison Trading Spa - Italy
- Toyota Tsusho Corporation, Japan
- Antam Resourcindo - Indonesia
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Xindia Steels Limited - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Parliament of New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Minerals Council of Australia
- Indo Tambangraya Megah - Indonesia
- Tata Chemicals Ltd - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- Sarangani Energy Corporation, Philippines
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Anglo American - United Kingdom
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- Planning Commission, India
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Global Business Power Corporation, Philippines
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- TeaM Sual Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- Samtan Co., Ltd - South Korea
- PTC India Limited - India
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Green Power PLC Corporation, Philippines
- India Bulls Power Limited - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Agrawal Coal Company - India
- The Treasury - Australian Government
- Thiess Contractors Indonesia
- The University of Queensland
- Oldendorff Carriers - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- Kaltim Prima Coal - Indonesia
- Siam City Cement - Thailand
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- SMC Global Power, Philippines
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Malabar Cements Ltd - India
- Kumho Petrochemical, South Korea
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