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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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Friday, 07 October 16
INDONESIA'S DEMAND FOR COAL REMAINS STRONG: BP
Indonesia's domestic demand for coal shows no sign of slowing down as the country is banking on its coal abundance to meet the country' ...
Friday, 07 October 16
CEYLON SHIPPING CORPORATION HAS TAKEN DELIVERY OF COAL CARRIER MV.CEYLON PRINCESS
Sri Lanka’s Ceylon Shipping Corporation (CSC) has taken delivery of its second newly built bulk carrier for the transportation of coal to pow ...
Friday, 07 October 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 540.5 MMST; DOWN 21.9% Y-O-Y, SAYS EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.7 million short ton ...
Thursday, 06 October 16
SHIPS IN PACIFIC ACHIEVE JUST ABOVE $10K DAILY FOR A BRAZIL ROUND VOYAGE - FEARNLEYS
Supramax
Slower week with limited activity due to holidays in the East. Mixed feelings within different markets, with slight downturn in Pacific ...
Wednesday, 05 October 16
OPEC TO SHUT OFF MORE THAN 6 PERCENT OF ITS PRODUCTION; MIXED FEELING AMONGST TRADERS - ALLIED
OPEC recent accord to shut off more than 6 percent of its production this past week has been met with mixed feeling amongst traders. As we mo ...
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- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Attock Cement Pakistan Limited
- Minerals Council of Australia
- Altura Mining Limited, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Ministry of Finance - Indonesia
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- LBH Netherlands Bv - Netherlands
- Intertek Mineral Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Salva Resources Pvt Ltd - India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- India Bulls Power Limited - India
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Straits Asia Resources Limited - Singapore
- GVK Power & Infra Limited - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Sakthi Sugars Limited - India
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Ministry of Mines - Canada
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Goldman Sachs - Singapore
- Bhatia International Limited - India
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- McConnell Dowell - Australia
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Metalloyd Limited - United Kingdom
- SMG Consultants - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Renaissance Capital - South Africa
- The Treasury - Australian Government
- The University of Queensland
- Indonesian Coal Mining Association
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Orica Australia Pty. Ltd.
- Anglo American - United Kingdom
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Coal and Oil Company - UAE
- Singapore Mercantile Exchange
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- San Jose City I Power Corp, Philippines
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Power Finance Corporation Ltd., India
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Chettinad Cement Corporation Ltd - India
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