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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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Monday, 07 November 16
INDONESIAN COAL PRICE REFERENCE ROSE 59.57 PER CENT YEAR TO MONTH
COALspot.com: The Indonesia coal benchmark price hits to its highest level since May 2013. The government declared benchmark prices for Indo ...
Monday, 07 November 16
HANDYSIZE: THE ASIAN INDICES RECORDED A GRADUAL DROP EVERY DAY - THE BALTIC BRIEFING
Capesize
A rumour-fuelled market this week but essentially rates a touch firmer and owners cautiously optimistic. The flotilla of vessels heading ...
Monday, 07 November 16
THE SUPRAMAX CHARTER RATES FOR INDONESIA TO INDIA WERE RATING AT AROUND $7500-8000 A DAY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose slightly and ending in a positive note this past wee ...
Friday, 04 November 16
U.S COAL PRODUCTION UP WEEK OVER WEEK
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 17 million short tons ...
Friday, 04 November 16
INDONESIAN INFRASTRUCTURE DEVELOPMENT TRENDS ARE UNANIMOUSLY AFFIRMED
Press Release: October 20-21, 2016 Indonesia Infrastructure Summit (IIC) opened at the Hyatt Hotel in Jakarta The theme of the meeting was "Pr ...
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- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Posco Energy - South Korea
- Uttam Galva Steels Limited - India
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Edison Trading Spa - Italy
- The Treasury - Australian Government
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Georgia Ports Authority, United States
- Formosa Plastics Group - Taiwan
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- The University of Queensland
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- White Energy Company Limited
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Tamil Nadu electricity Board
- Australian Coal Association
- Indonesian Coal Mining Association
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Neyveli Lignite Corporation Ltd, - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Bhushan Steel Limited - India
- Leighton Contractors Pty Ltd - Australia
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Lanco Infratech Ltd - India
- GVK Power & Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Orica Australia Pty. Ltd.
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- MS Steel International - UAE
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- SMG Consultants - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Wilmar Investment Holdings
- Gujarat Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Alfred C Toepfer International GmbH - Germany
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- VISA Power Limited - India
- Minerals Council of Australia
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Indika Energy - Indonesia
- Australian Commodity Traders Exchange
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- New Zealand Coal & Carbon
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
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