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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, 22 November 16
THE COMMODITIES MARKETS HAD SHOWED GREATER PROMISE SINCE THE SUMMER PERIOD - GEORGE LAZARIDIS
We have all borne witness to the sluggish pace of trade growth witnessed during the course of the past 4 years as well as the even slower pace note ...
Monday, 21 November 16
CHINA IS ESTIMATED TO SEE HIGHEST IMPORTED COAL DEMAND LEVEL IN 2017, POLL SAYS
“Which country is estimated to see highest imported coal demand level in 2017?”
The on-line opinion poll conducted by COALsp ...
Monday, 21 November 16
KOMIPO IS LOOKING FOR 140K MT OF SUB-BITUMINOUS COAL FOR FEB-MAR 2017 LOADING
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 140,000 Metric Tons of Sub-Bituminous coal for i ...
Monday, 21 November 16
BALTIC DRY INDEX SURGES TO 1257 POINTS W/E 18 NOV; BPI ROSE 37.3% W/W
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rally continues this past week and ending on a positive n ...
Friday, 18 November 16
CAPESIZE: THE COMMODITIES PRICES ARE INCREASING, RESULTING IN MORE DEMAND AND CONSEQUENTLY RATES ARE MAKING A BIG JUMP - FEARNLEYS
Supramax
Apart from booming S. Africa where owners have obtained USD 14-15k to MEG/India and around mid USD 12k to China, the Pacific market has ...
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- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Vedanta Resources Plc - India
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Bhushan Steel Limited - India
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Global Business Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Kideco Jaya Agung - Indonesia
- Krishnapatnam Port Company Ltd. - India
- White Energy Company Limited
- London Commodity Brokers - England
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Price Waterhouse Coopers - Russia
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Sojitz Corporation - Japan
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- Maharashtra Electricity Regulatory Commission - India
- SMG Consultants - Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Mjunction Services Limited - India
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Indian Oil Corporation Limited
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Sakthi Sugars Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Medco Energi Mining Internasional
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Kumho Petrochemical, South Korea
- Cement Manufacturers Association - India
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- PTC India Limited - India
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Semirara Mining and Power Corporation, Philippines
- Petron Corporation, Philippines
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Latin American Coal - Colombia
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Energy Development Corp, Philippines
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Meralco Power Generation, Philippines
- Karaikal Port Pvt Ltd - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
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