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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, 20 December 16
TRADE HAS FELT ITS BUMPS AND SHAKES THIS YEAR - GEORGE LAZARIDIS
Trade has felt its bumps and shakes this year, as growing populist protectionist and nationalist movements in the Western world start to take hold. ...
Tuesday, 20 December 16
TURNAROUND IN CHINESE ECONOMY HAS INTENSIFIED RECENTLY, SAYS COMMODORE RESEARCH
According to the most recent Weekly China Report published by Commodore Research, it has remained encouraging that the turnaround in China’s ...
Monday, 19 December 16
U.S. WEEKLY COAL PRODUCTION DOWN 3.1% PERCENT WEEK ON WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
Monday, 19 December 16
THE FREIGHT MARKET WAS CONTINUING TO SOFTEN
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities continually decline this past week and ending on a negati ...
Thursday, 15 December 16
SUPRAMAXES ARE ACHIEVING AROUND HIGH USD 7K FOR INDO/CHINA COAL ROUNDS - FEARNLEY
Supramax
Pacific has been relatively quiet this week, with some softening signs.
Supramaxes are achieving around high USD 7k for Indo/China ...
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- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- Metalloyd Limited - United Kingdom
- Malabar Cements Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- MS Steel International - UAE
- Eastern Coal Council - USA
- Kumho Petrochemical, South Korea
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Rashtriya Ispat Nigam Limited - India
- Kepco SPC Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Electricity Generating Authority of Thailand
- PTC India Limited - India
- CIMB Investment Bank - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Karaikal Port Pvt Ltd - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Billiton Holdings Pty Ltd - Australia
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Australian Coal Association
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Planning Commission, India
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- GMR Energy Limited - India
- Ministry of Mines - Canada
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- GN Power Mariveles Coal Plant, Philippines
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jaiprakash Power Ventures ltd
- PNOC Exploration Corporation - Philippines
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- The University of Queensland
- Central Java Power - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Global Coal Blending Company Limited - Australia
- Interocean Group of Companies - India
- Australian Commodity Traders Exchange
- Merrill Lynch Commodities Europe
- Asmin Koalindo Tuhup - Indonesia
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
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