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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, 29 September 16
FREIGHT RATES MIGHT CONTINUE TO SLIDE NEXT WEEK DUE TO HOLIDAYS IN CHINA
Supramax
Flat start to week followed by a slight gain in rates for Supramaxes, says Fearnleys in its latest weekly report.
According to Fear ...
Wednesday, 28 September 16
WITHOUT A DOUBT FREIGHT RATES HAVE MOVED UP A BIT TO HEALTHIER LEVELS - INTERMODAL
As we are approaching Q4, it is interesting to perform a review of the last nine months with respect to the second-hand prices of Supramax and Pana ...
Tuesday, 27 September 16
THE CAPESIZE RATE OF INCREASE HAS BEEN IMPRESSIVE, UP 39% W/W AND 123% MONTH TO DATE - ALLIED
The Dry bulk market has seen a rare shine in its performance as the capesize sector manages to rally at an unprecedented rate compared to its perfo ...
Monday, 26 September 16
COAL PRICES HAVE BEEN MOVING STEADILY HIGHER AFTER YEARS OF DECLINE
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, 26 September 16
THE FREIGHT MARKET WAS FIRM; ALL SEGMENTS WERE UP THIS PAST WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week. The BD ...
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- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Billiton Holdings Pty Ltd - Australia
- Indonesian Coal Mining Association
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- San Jose City I Power Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Indian Energy Exchange, India
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Carbofer General Trading SA - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Timah Investasi Mineral - Indoneisa
- Central Java Power - Indonesia
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Altura Mining Limited, Indonesia
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Anglo American - United Kingdom
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Neyveli Lignite Corporation Ltd, - India
- Krishnapatnam Port Company Ltd. - India
- Thai Mozambique Logistica
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Planning Commission, India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Energy Development Corp, Philippines
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Siam City Cement PLC, Thailand
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- GN Power Mariveles Coal Plant, Philippines
- Kepco SPC Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Trasteel International SA, Italy
- Globalindo Alam Lestari - Indonesia
- Bulk Trading Sa - Switzerland
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- Africa Commodities Group - South Africa
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Directorate Of Revenue Intelligence - India
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Link Ltd, New Zealand
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Heidelberg Cement - Germany
- Karaikal Port Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Star Paper Mills Limited - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Jaiprakash Power Ventures ltd
- Singapore Mercantile Exchange
- CNBM International Corporation - China
- Mintek Dendrill Indonesia
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Romanian Commodities Exchange
- Australian Coal Association
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Savvy Resources Ltd - HongKong
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- International Coal Ventures Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PNOC Exploration Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Sidhee Cement - India
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- India Bulls Power Limited - India
- GMR Energy Limited - India
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- ASAPP Information Group - India
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
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