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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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Wednesday, 07 December 16
U.S. COAL PRODUCTION IS FORECAST TO INCREASE BY 2% IN 2017 - EIA
U.S. Coal production in November 2016 was 70.7 million short tons (MMst), the third time this year monthly production exceeded 70 MMst, says EIA.
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Wednesday, 07 December 16
IT'S BEEN YET ANOTHER TURBULENT COUPLE OF DAYS..... - GEORGE LAZARIDIS
It’s been yet another turbulent couple of days, with a significant number of news headlines shaking up markets.
On Friday we had & ...
Monday, 05 December 16
INDIAN HYDROPOWER PRODUCTION AT LOWEST LEVEL SINCE 2012, SAYS COMMODORE RESEARCH
According to Commodore Research, the first eleven months of this year have seen India’s overall electricity production total approximately 1. ...
Monday, 05 December 16
THE DECEMBER 2016 HBA HITS TO ITS HIGHEST LEVEL SINCE MAY 2012
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2012. The government declared benchmark prices for Indo ...
Monday, 05 December 16
BALTIC PANAMAX INDEX UP 5.98%; BALTIC CAPE INDEX FELL 2.52% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally slightly continues this past week and ending on a s ...
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- Chamber of Mines of South Africa
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Karaikal Port Pvt Ltd - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Kumho Petrochemical, South Korea
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- OPG Power Generation Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- The University of Queensland
- Standard Chartered Bank - UAE
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Grasim Industreis Ltd - India
- Bukit Makmur.PT - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Pipit Mutiara Jaya. PT, Indonesia
- Parry Sugars Refinery, India
- Mercuria Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Banpu Public Company Limited - Thailand
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Coal Association
- Aditya Birla Group - India
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Indian Energy Exchange, India
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- India Bulls Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Videocon Industries ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Sindya Power Generating Company Private Ltd
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- The State Trading Corporation of India Ltd
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- PTC India Limited - India
- GMR Energy Limited - India
- Posco Energy - South Korea
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Ministry of Mines - Canada
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Maharashtra Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Barasentosa Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Bhoruka Overseas - Indonesia
- Mercator Lines Limited - India
- Bahari Cakrawala Sebuku - Indonesia
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