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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, 12 December 16
INDONESIA TO INDIA FREIGHT RATES ARE EXPECTED TO BE SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline this past week and ending on a negative note week ...
Thursday, 08 December 16
STABLE OUTLOOK FOR GLOBAL MINING IN 2017 : FITCH
Fitch Ratings' sector and rating outlooks for the global mining industry in 2017 are both stable, reflecting Fitch's view that prices have ...
Thursday, 08 December 16
CHINESE COAL DEMAND WOULD BE THE KEY FACTOR THAT INFLUENCE WORLD COAL PRICES IN 2017, POLL
“WHAT ARE THE KEY FACTORS THAT MAY INFLUENCE WORLD'S COAL PRICES IN 2017?”
The on-line opinion poll conducted by COALspot.com ...
Thursday, 08 December 16
PANAMAX: THE FIRM TENDENCY CONTINUES IN BOTH HEMISPHERES - FEARNLEY
Supramax
Market remained firm - true mostly within Atlantic.
Star performer USG remained its title, where Supras reached around USD 21k ...
Wednesday, 07 December 16
SHIPPING MARKET INSIGHT - THEODOROS NTALAKOS
Looking back at my previous end-of-year insights, for the last seven years, in each and every one of them, I begin with something like “there ...
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- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Baramulti Group, Indonesia
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Singapore Mercantile Exchange
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Straits Asia Resources Limited - Singapore
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Ind-Barath Power Infra Limited - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Tamil Nadu electricity Board
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Intertek Mineral Services - Indonesia
- Georgia Ports Authority, United States
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Xindia Steels Limited - India
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Timah Investasi Mineral - Indoneisa
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Renaissance Capital - South Africa
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Heidelberg Cement - Germany
- Grasim Industreis Ltd - India
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Medco Energi Mining Internasional
- Minerals Council of Australia
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- GVK Power & Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Metalloyd Limited - United Kingdom
- Siam City Cement - Thailand
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Thai Mozambique Logistica
- Wood Mackenzie - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Sree Jayajothi Cements Limited - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- McConnell Dowell - Australia
- Kepco SPC Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Parliament of New Zealand
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- MS Steel International - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Cement Manufacturers Association - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
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