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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, 02 January 17
PORT OF NEWCASTLE SHIPPED 13.62 MMT OF COAL IN NOVEMBER; UP 4.18% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1,201 Mil ...
Friday, 30 December 16
US WEEKLY COAL PRODUCTION TOTALS 15.2 MMST, DOWN 3.1% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.2 million sho ...
Thursday, 29 December 16
CHINA AIMS TO CAP COAL-FIRED POWER CAPACITY AT 1,100 GIGAWATTS BY THE END OF 2020 - REUTERS
China aims to cap total primary energy consumption at around 4.4 billion tonnes of coal equivalent in 2017, the director of the National Energy Adm ...
Wednesday, 28 December 16
FINANCIAL MARKETS AND COMMODITY MARKETS HAVE ALREADY SHOWED CONSIDERABLE IMPROVEMENT AND RENEWED OPTIMISM - GEORGE LAZARIDIS
As 2016 nears to a close many will be breathing a heavy sigh of relief, having made it through one of the toughest years in this century and lookin ...
Wednesday, 28 December 16
BUMA SIGNED APPROXIMATELY US$ 493 MILLION WORTH OF MINING SERVICES CONTRACTS WITH PT ADARO INDONESIA AND PT ANGSANA JAYA ENERGY
COALspot.com: PT Delta Dunia Makmur Tbk. Has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA") has ...
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- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Kaltim Prima Coal - Indonesia
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- LBH Netherlands Bv - Netherlands
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Parliament of New Zealand
- Coal and Oil Company - UAE
- Economic Council, Georgia
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Grasim Industreis Ltd - India
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Malabar Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Independent Power Producers Association of India
- Mercator Lines Limited - India
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Metalloyd Limited - United Kingdom
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- London Commodity Brokers - England
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Medco Energi Mining Internasional
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Larsen & Toubro Limited - India
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ind-Barath Power Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Eastern Energy - Thailand
- Global Coal Blending Company Limited - Australia
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- GMR Energy Limited - India
- Marubeni Corporation - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- VISA Power Limited - India
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Savvy Resources Ltd - HongKong
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
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