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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, 27 October 16
PANAMAX: FIRM ATLANTIC; TOPPISH PACIFIC - FEARNLEYS
Supramax
The trend from last week is passed on. ECSA still strong with Supras from N Brazil to Med fixed at $9,000 to $9,500 daily.
Accordin ...
Wednesday, 26 October 16
SHIPPING MARKET INSIGHT - KONSTANTINOS KONTOMICHIS
If the finale of a thriller movie finds the leading actor successfully surviving after all the sacrifices he has made, the audience presumes this t ...
Tuesday, 25 October 16
INDONESIAN COAL PRICES MARCH HIGHER CONTINUES
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing and it is expected to rally at l ...
Tuesday, 25 October 16
THINGS ARE SLOWLY STARTING TO IMPROVE AS CORRECTIONS ARE MADE - ALLIED
It seems as though left, right and centre, all we see nowadays is the word “restructuring”.
There is restructuring amongst bankers ...
Monday, 24 October 16
KOMIPO INVITES BIDS FOR 0.78 MILLION TONS OF BITUMINOUS COAL
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for 780,000 Metric Tons of Bituminous Coal for its B ...
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- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Transport, Egypt
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Gujarat Sidhee Cement - India
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Ambuja Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Bukit Asam (Persero) Tbk - Indonesia
- CNBM International Corporation - China
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Sarangani Energy Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- ASAPP Information Group - India
- Essar Steel Hazira Ltd - India
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- ICICI Bank Limited - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Ind-Barath Power Infra Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- Carbofer General Trading SA - India
- MS Steel International - UAE
- Baramulti Group, Indonesia
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Bukit Baiduri Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- GVK Power & Infra Limited - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- Trasteel International SA, Italy
- The State Trading Corporation of India Ltd
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Mercator Lines Limited - India
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Miang Besar Coal Terminal - Indonesia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Global Business Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Aditya Birla Group - India
- Romanian Commodities Exchange
- Simpson Spence & Young - Indonesia
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Jindal Steel & Power Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Altura Mining Limited, Indonesia
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Maheswari Brothers Coal Limited - India
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Siam City Cement - Thailand
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Indonesian Coal Mining Association
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- GMR Energy Limited - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
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