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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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Thursday, 10 November 16
WILL TRUMP VICTORY PROVIDE A BOOST FOR HYDROCARBON & COAL INDUSTRIES? - DOUGLAS-WESTWOOD
Donald Trump’s surprise victory ends months of an adversarial presidential campaign with bitter disagreements between the two major candidate ...
Thursday, 10 November 16
PANAMAX: NO TRUMP INFLUENCE YET, AND THE MARKET IS HEADING NORTH - FEARNLEYS
Supramax
Pacific Supra market still soft and falling this week, although seems to be in a somewhat slower pace compared to last week. According t ...
Wednesday, 09 November 16
SINGAPORE'S SGX COMPLETES ACQUISITION OF LONDON'S BALTIC EXCHANGE
COALspot.com: Singapore Exchange Limited and The Baltic Exchange Limited together announced that the acquisition of the Baltic Exchange by SGX has ...
Wednesday, 09 November 16
SUPRAMAX: 50% INCREASE ON AVERAGE SINCE THE FIRST QUARTER OF THE YEAR - GIANNIS ANDRITSOPOULOS
Last week was an interesting one for the tanker market, which following the explosion of the gas pipeline in Alabama witnessed a spike in Atlantic ...
Tuesday, 08 November 16
S.KOREA'S KOMIPO ISSUES TENDER TO BUY 390K TONS OF BITUMINOUS COAL FOR JAN-FEB 2017
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 390,000 Metric Tons of Bituminous Coal for its B ...
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- Electricity Generating Authority of Thailand
- Bhatia International Limited - India
- Bukit Makmur.PT - Indonesia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Kumho Petrochemical, South Korea
- Posco Energy - South Korea
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- European Bulk Services B.V. - Netherlands
- PowerSource Philippines DevCo
- Medco Energi Mining Internasional
- Riau Bara Harum - Indonesia
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- The University of Queensland
- PTC India Limited - India
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Therma Luzon, Inc, Philippines
- Indonesian Coal Mining Association
- Interocean Group of Companies - India
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Samtan Co., Ltd - South Korea
- Dalmia Cement Bharat India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Merrill Lynch Commodities Europe
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Meralco Power Generation, Philippines
- Vizag Seaport Private Limited - India
- TeaM Sual Corporation - Philippines
- Star Paper Mills Limited - India
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Chettinad Cement Corporation Ltd - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- The Treasury - Australian Government
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Ambuja Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
- CIMB Investment Bank - Malaysia
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Central Java Power - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement - Thailand
- Manunggal Multi Energi - Indonesia
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
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