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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, 26 December 16
DO THE DERIVATIVES MARKETS MAKE COAL PRICES MORE VOLATILE? 59.21% SAY YES, POLL
COALspot.com: The substantial increase or decrease in coal prices within a short period of time has been supported by a number of fundamental drive ...
Friday, 23 December 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALED 711.1 MMST; DOWN 18.5% Y/Y - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Thursday, 22 December 16
INDONESIA LACK OF EXPORT TO INDIA THIS WEEK - FERNLEYS
Supramax
While the Atlantic is keeping up with rates, the Pacific has been weaker says Astrup Fernley.
According to Astrup Fernley, backhaul ...
Wednesday, 21 December 16
THE SUPREME COURT DECISION IN OW BUNKERS - WHEN A SALE OF GOODS IS NOT A SALE OF GOODS - LEON ALEXANDER, CLYDE&CO
KNOWLEDGE TO ELEVATE
In May 2016 the Supreme Court of England & Wales gave judgment in an OW Bunkers test case entitled "Res Cogitans ...
Wednesday, 21 December 16
CLEANING THE OCEANS FROM PLASTIC - SOPHIE COTZIAS
2016 is coming to a close and it finds us in preparation for the 2017 enforcement of the Ballast Water Treatment Systems. We naturally are in thoug ...
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- Holcim Trading Pte Ltd - Singapore
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Mjunction Services Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Straits Asia Resources Limited - Singapore
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Mercator Lines Limited - India
- Coal and Oil Company - UAE
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Gujarat Sidhee Cement - India
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- VISA Power Limited - India
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Latin American Coal - Colombia
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Heidelberg Cement - Germany
- Petrochimia International Co. Ltd.- Taiwan
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- White Energy Company Limited
- Carbofer General Trading SA - India
- Attock Cement Pakistan Limited
- Salva Resources Pvt Ltd - India
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Gujarat Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- Therma Luzon, Inc, Philippines
- Posco Energy - South Korea
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Star Paper Mills Limited - India
- CNBM International Corporation - China
- Simpson Spence & Young - Indonesia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- Trasteel International SA, Italy
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Directorate Of Revenue Intelligence - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Parliament of New Zealand
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Planning Commission, India
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Bukit Asam (Persero) Tbk - Indonesia
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Generating Authority of Thailand
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- India Bulls Power Limited - India
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