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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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Tuesday, 19 July 16
INDONESIAN THERMAL COAL INDEXES CONTINUALLY FIRM UP ON ROBUST BUYING INTEREST - CS COAL INDEX
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose One percent week over week to averaging $40.38 per ton this past week, shows CS ...
Monday, 18 July 16
FROM PIT TO PORT: DRY BULK NEEDS A NEW PATH TO PROFITABILITY - TOC EUROPE
During the golden years for commodities, from 2005 to 2014, high demand and big profit margins pushed companies to produce more and more, sacrifici ...
Monday, 18 July 16
BALTIC DRY INDEX REMAIN FIRM, UP BY 5.97 WEEK OVER WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continued to remain firm with all segments ending in posi ...
Friday, 15 July 16
US COAL PRODUCTION DOWN 8.4% WEEK-OVER-WEEK
COALspot.com – U.S, world’s second largest coal producers has produced approximately totalled an estimated 12.9 million short tons (mms ...
Thursday, 14 July 16
SHIPPING'S HALF YEAR REPORT - 'MUST DO BETTER' - CLARKSONS
It’s the time of year, with the school holidays and end of term approaching, that many pupils will nervously take home their school reports t ...
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- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Barasentosa Lestari - Indonesia
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Global Business Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Latin American Coal - Colombia
- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Chamber of Mines of South Africa
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Timah Investasi Mineral - Indoneisa
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement - Thailand
- Wilmar Investment Holdings
- New Zealand Coal & Carbon
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Antam Resourcindo - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- Formosa Plastics Group - Taiwan
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Interocean Group of Companies - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- Bulk Trading Sa - Switzerland
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Semirara Mining and Power Corporation, Philippines
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Ministry of Finance - Indonesia
- Planning Commission, India
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Agrawal Coal Company - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- Merrill Lynch Commodities Europe
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Aboitiz Power Corporation - Philippines
- PowerSource Philippines DevCo
- Larsen & Toubro Limited - India
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- Eastern Coal Council - USA
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Binh Thuan Hamico - Vietnam
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Renaissance Capital - South Africa
- Vizag Seaport Private Limited - India
- ASAPP Information Group - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Economic Council, Georgia
- Anglo American - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
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