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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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Sunday, 04 December 16
U.S. WEEKLY COAL OUTPUT DECLINED 11.9% W/E 26 NOV; UP 1.4% Y/Y, EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.2 million short ton ...
Thursday, 01 December 16
OIL PRICES MAY SEE LITTLE GROWTH BEFORE 2018, FITCH RATINGS SAYS
High inventories and the potential for US shale production to respond quickly to any market tightening mean oil prices may flat line in 2017 before ...
Thursday, 01 December 16
CHINA 2017 OIL, GAS OUTPUT DROP MAY WORSEN ON CAPEX CUT: FITCH
China's oil and gas production may shrink even more in 2017 than in 2016 after the country's leading oil companies cut exploration and prod ...
Thursday, 01 December 16
ANOTHER WONDERFUL WEEK FOR PANAMAX - FEARNLEY
Supramax
A slower start to the week in the Pacific compared to last Trips from N. China to S. China is paying in the range of low USD 5k, while I ...
Tuesday, 29 November 16
AUSTRALIA'S PORT OF NEWCASTLE SHIPPED 13.08 MT OF COAL IN OCTOBER; DOWN 10.39% M/M
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU1,124.7 Mi ...
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- Kobexindo Tractors - Indoneisa
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Cigading International Bulk Terminal - Indonesia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Bhushan Steel Limited - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Kapuas Tunggal Persada - Indonesia
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- Neyveli Lignite Corporation Ltd, - India
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Madhucon Powers Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Electricity Generating Authority of Thailand
- Carbofer General Trading SA - India
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- Kumho Petrochemical, South Korea
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Attock Cement Pakistan Limited
- Mjunction Services Limited - India
- VISA Power Limited - India
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Meenaskhi Energy Private Limited - India
- Power Finance Corporation Ltd., India
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Iligan Light & Power Inc, Philippines
- PTC India Limited - India
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- GAC Shipping (India) Pvt Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Wilmar Investment Holdings
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Orica Mining Services - Indonesia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Gujarat Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Goldman Sachs - Singapore
- Sical Logistics Limited - India
- Australian Coal Association
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- The University of Queensland
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- International Coal Ventures Pvt Ltd - India
- Larsen & Toubro Limited - India
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
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