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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, 03 November 16
THE INDEX BASED COAL SALES & PURCHASE STRATEGY MAKES MORE EFFICIENT, SAYS 55.17% END-USERS
Considering the current coal market condition, the Index based coal sales & purchase strategy make more efficient was deemed the winner by 57.0 ...
Thursday, 03 November 16
CAPESIZE: BRAZIL/CHINA RATES MOVED TO THE $11 PMT LEVEL; WEST AUSTRALIA/CHINA ROUTE MOVED UP CLOSE TO MID $5 PMT LEVEL - FEARNLEYS
Supramax
In the Atlantic we see a bit more activity than in the eastern hemisphere, says Fearnleys in its latest weekly report. Fhauls via Black ...
Wednesday, 02 November 16
SHIPPING MARKET INSIGHT
A week before the U.S. presidential election, everyone is eager to see the socio-political effects that the result of these elections will have. As ...
Wednesday, 02 November 16
SHIP OPERATING COSTS ARE EXPECTED TO RISE IN BOTH 2016 AND 2017 - MOORE STEPHENS
Vessel operating costs are expected to rise in both 2016 and 2017. Repairs and maintenance and spares are the cost categories which are likely to i ...
Tuesday, 01 November 16
PANAMAX : A FAIR AMOUNT OF SIDEWAYS SHIPPING IN RATES - ALLIED SHIPPING
Capesize
A very sluggish start to the week, with rates dropping considerably as all optimism seems to have evaporated over the weekend. According ...
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- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Parry Sugars Refinery, India
- Marubeni Corporation - India
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- India Bulls Power Limited - India
- Iligan Light & Power Inc, Philippines
- GVK Power & Infra Limited - India
- The University of Queensland
- Ministry of Transport, Egypt
- Price Waterhouse Coopers - Russia
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Malabar Cements Ltd - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Timah Investasi Mineral - Indoneisa
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Planning Commission, India
- Edison Trading Spa - Italy
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Sidhee Cement - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Authority, New Zealand
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Australian Commodity Traders Exchange
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Sindya Power Generating Company Private Ltd
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Vedanta Resources Plc - India
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- Samtan Co., Ltd - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Alfred C Toepfer International GmbH - Germany
- Sakthi Sugars Limited - India
- Bangladesh Power Developement Board
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Renaissance Capital - South Africa
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bhatia International Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Petron Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Altura Mining Limited, Indonesia
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Videocon Industries ltd - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Australian Coal Association
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Energy Development Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Sarangani Energy Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Leighton Contractors Pty Ltd - Australia
- MS Steel International - UAE
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tamil Nadu electricity Board
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
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