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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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Wednesday, 12 October 16
MARKET INSIGHT - LINOS KOGEVINAS
Another Monday has gone by, bringing with it further turbulence for oil. A series of meetings between high-production nations Russia & Saudi Ar ...
Wednesday, 12 October 16
INDIAN STEELMAKERS' DELEVERAGING AT RISK ON COKING COAL PRICE JUMP - FITCH
The sharp increase in coking coal prices since August 2016 could squeeze Indian steelmakers' profitability and threaten their deleveraging, Fit ...
Wednesday, 12 October 16
UK SEABORNE COAL IMPORT PLUNGES 64% AS A WORRYING TREND LURKS - BIMCO
The main exporters of thermal coal for coal- fired power plants to the United Kingdom (UK) have experienced a heavy decline in seaborne cargo volum ...
Monday, 10 October 16
INDONESIAN COAL PRICE REFERENCE HITS HIGHEST LEVELS SINCE SEPTEMBER 2014
COALspot.com: The Indonesia coal benchmark price hits to its highest level since September 2014. The government declared benchmark prices for Indon ...
Monday, 10 October 16
THE FREIGHT MARKET FIRMS UP ON STRONG CAPE PERFORMANCE
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose again and ending in a positive note this past week. ...
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- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Maheswari Brothers Coal Limited - India
- Thai Mozambique Logistica
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Star Paper Mills Limited - India
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Mines - Canada
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- London Commodity Brokers - England
- Planning Commission, India
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- AsiaOL BioFuels Corp., Philippines
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Eastern Energy - Thailand
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Electricity Authority, New Zealand
- Central Java Power - Indonesia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Interocean Group of Companies - India
- ASAPP Information Group - India
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Kartika Selabumi Mining - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Borneo Indobara - Indonesia
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Coalindo Energy - Indonesia
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Directorate Of Revenue Intelligence - India
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Attock Cement Pakistan Limited
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Bukit Makmur.PT - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- PTC India Limited - India
- Salva Resources Pvt Ltd - India
- Bangladesh Power Developement Board
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- International Coal Ventures Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Economic Council, Georgia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Global Business Power Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- The Treasury - Australian Government
- Renaissance Capital - South Africa
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- Toyota Tsusho Corporation, Japan
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Siam City Cement - Thailand
- Coastal Gujarat Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Sical Logistics Limited - India
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
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