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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, 29 November 16
US WEEKLY COAL OUTPUT TOTALS 17.2 MMST, UP 2.8% : EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17.2 million short ton ...
Monday, 28 November 16
BALTIC DRY INDEX FALLS TO 1181 POINT, DOWN 76 POINTS W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities down slightly and ending in a negative note this past wee ...
Thursday, 24 November 16
SUPRAMAX: SOUTH AFRICA STILL STRONG WITH OWNERS ACHIEVING AROUND USD 14-15K FOR TRIPS EAST - FEARNLEYS
Supramax
A positive kick-off in both the Atlantic and the Pacific. Very healthy rates within USG, some supras receiving well over 20k for trips t ...
Wednesday, 23 November 16
MARKET INSIGHT - CHRISTOPHER THOMAS WHITTY
The Organization of the Petroleum Exporting Countries (OPEC) is due to finalize a reduction in total production at its next scheduled meeting in Vi ...
Tuesday, 22 November 16
ITALY'S STEAM COAL IMPORTS EXPECTED TO DECLINE 7% Y/Y TO 15 MILLION TONS IN 2017 - ITALIAN COAL ASSOCIATION
Italy’s steam coal imports expected to decline to 15 million tons in 2017, or 7% less imports compared to 2016. The coking coal imports are e ...
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- Holcim Trading Pte Ltd - Singapore
- Makarim & Taira - Indonesia
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Posco Energy - South Korea
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Pendopo Energi Batubara - Indonesia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- SMG Consultants - Indonesia
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Planning Commission, India
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate Of Revenue Intelligence - India
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Indika Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Lanco Infratech Ltd - India
- Vizag Seaport Private Limited - India
- Antam Resourcindo - Indonesia
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Aditya Birla Group - India
- Bhatia International Limited - India
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- Global Business Power Corporation, Philippines
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Rio Tinto Coal - Australia
- European Bulk Services B.V. - Netherlands
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Mineral Development Corp Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indonesian Coal Mining Association
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Minerals Council of Australia
- Australian Coal Association
- PetroVietnam Power Coal Import and Supply Company
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Tamil Nadu electricity Board
- Ambuja Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Georgia Ports Authority, United States
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Heidelberg Cement - Germany
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- South Luzon Thermal Energy Corporation
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- International Coal Ventures Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Bukit Makmur.PT - Indonesia
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Straits Asia Resources Limited - Singapore
- Medco Energi Mining Internasional
- Semirara Mining and Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
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