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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, 05 January 17
UNCHANGED COAL-FIRED TARIFFS PRESSURE CHINA'S GENERATORS - FITCH
COALspot.com: China's decision to keep on-grid electricity prices from coal-fired power unchanged amid higher coal prices will further squeeze ...
Thursday, 05 January 17
CAPE MARKET HAVE KEPT SURPRISINGLY FIRM AND ACTIVE DURING THE CHRISTMAS AND NEW YEAR HOLIDAYS - FEARNLEYS
Supramax
The first week after a slow Christmas break has started off with little activity and softening rates. Not surprisingly, the market is fi ...
Thursday, 05 January 17
COMPARISON OF HONG KONG AND LONDON ARBITRATION - SKULD
KNOWLEDGE TO ELEVATE
Whilst London arbitration is the most popular platform for resolution of charterparty disputes, where the parties involved a ...
Wednesday, 04 January 17
INDONESIA'S COAL PRODUCTION IS ESTIMATED TO REACH 434 MILLION TONS IN 2016 EXCEEDED THE GOVERNMENT'S INITIAL TARGET
Indonesia's coal production is estimated to reach 434 million tons in 2016 exceeded the government's initial target. The Ministry of Energy ...
Tuesday, 03 January 17
BENGKULU TO IMPOSE TOUGHER REGULATION FOR UNPROCESSED COAL AND MINERALS EXPORTS IN 2017 - MEDIA
Bengkulu provincial government is planning to impose tougher regulation for export of coal and mineral in 2017. According to liputan6 online portal ...
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- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- LBH Netherlands Bv - Netherlands
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Semirara Mining Corp, Philippines
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Madhucon Powers Ltd - India
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Karbindo Abesyapradhi - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Grasim Industreis Ltd - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Link Ltd, New Zealand
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- The University of Queensland
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- IHS Mccloskey Coal Group - USA
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Baramulti Group, Indonesia
- Rashtriya Ispat Nigam Limited - India
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Dalmia Cement Bharat India
- Singapore Mercantile Exchange
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Meenaskhi Energy Private Limited - India
- Economic Council, Georgia
- Australian Coal Association
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Riau Bara Harum - Indonesia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- MS Steel International - UAE
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Sojitz Corporation - Japan
- New Zealand Coal & Carbon
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Orica Australia Pty. Ltd.
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Indika Energy - Indonesia
- Minerals Council of Australia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
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