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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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Friday, 18 November 16
U.S. WEEKLY COAL PRODUCTION TOTALS 16.8 MMST, DOWN 0.8%, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 17 November 16
FROTHY THERMAL COAL PRICES POINT TO DOWNSIDE PRESSURES IN 2017 - FITCH
Fitch Ratings says in an Outlook Report that the Asian thermal coal industry will remain under pressure in 2017 due to more-than-adequate capacity ...
Thursday, 17 November 16
CHINA STEEL EXPORTS TO REMAIN HIGH IN 2017, FITCH SAYS
Fitch Ratings expects Chinese steel exports to remain at around 100 million metric tons (Mt) in 2017, due to flat 'apparent' consumption an ...
Wednesday, 16 November 16
SHIPPING MARKET INSIGHT
Going through a relatively interesting second half of the year so far in the ship repair sector, we are experiencing a volatile climate of differen ...
Tuesday, 15 November 16
CHINA, FOR MANY YEARS NOW HAS SERVED AS A MAJOR GROWTH ENGINE FOR ASIA - ALLIED SHIPPING RESEARCH
It’s been a turbulent couple of days after the announcement of the U.S. Presidential results in the early hours of Wednesday.
After week ...
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Showing 2211 to 2215 news of total 6871 |
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- Coastal Gujarat Power Limited - India
- Latin American Coal - Colombia
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Planning Commission, India
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Riau Bara Harum - Indonesia
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- Oldendorff Carriers - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Sinarmas Energy and Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- Ind-Barath Power Infra Limited - India
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- TNB Fuel Sdn Bhd - Malaysia
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- GVK Power & Infra Limited - India
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Binh Thuan Hamico - Vietnam
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Cement Manufacturers Association - India
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Bank of Tokyo Mitsubishi UFJ Ltd
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Australian Coal Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rio Tinto Coal - Australia
- Parry Sugars Refinery, India
- VISA Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Videocon Industries ltd - India
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Electricity Authority, New Zealand
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Energy Development Corp, Philippines
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