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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, 05 October 16
SHIPPING MARKET INSIGHT
On September 27th the OPEC petroleum and energy ministers arrived in Algeria to attend the International Energy Forum, which brought together produ ...
Monday, 03 October 16
THERMAL COAL PRICE SHOOTS UP AND MADE THEIR VERTICAL MOVE IN 5 YEARS; PRICE RALLY 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 ...
Monday, 03 October 16
DRY-BULK SHIPPING FREIGHTS SLIDE IN SOFTENING SPOT MARKET
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities decline slightly and ending in a negative note this past ...
Friday, 30 September 16
U.S. WEEKLY COAL OUTPUT FELL 2.3% - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.7 million short ton ...
Friday, 30 September 16
OPEC CUT SUPPORTS SLOW OIL RECOVERY, NOT STRONG REBOUND - FITCH
OPEC's oil production target announced this week signals the potential for greater co-ordination among its members, but the target itself is la ...
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- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Miang Besar Coal Terminal - Indonesia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Gujarat Electricity Regulatory Commission - India
- Jorong Barutama Greston.PT - Indonesia
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- Australian Coal Association
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Binh Thuan Hamico - Vietnam
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- PTC India Limited - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- PNOC Exploration Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- Sree Jayajothi Cements Limited - India
- Holcim Trading Pte Ltd - Singapore
- Billiton Holdings Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- Baramulti Group, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate Of Revenue Intelligence - India
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Larsen & Toubro Limited - India
- Ceylon Electricity Board - Sri Lanka
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- International Coal Ventures Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Bhoruka Overseas - Indonesia
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Posco Energy - South Korea
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Gujarat Sidhee Cement - India
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- VISA Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Tata Chemicals Ltd - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Eastern Coal Council - USA
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- SMC Global Power, Philippines
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Goldman Sachs - Singapore
- Chettinad Cement Corporation Ltd - India
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- The University of Queensland
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
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