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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, 23 September 16
"COLLATERAL LIES" DO NOT NECESSARILY UNDERMINE AN INSURANCE CLAIM
KNOWLEDGE TO ELEVATE
An insured was not precluded from recovering under an insurance policy even though it had made a false statement during t ...
Friday, 23 September 16
EIA SEES U.S. COAL WEEKLY OUTPUT INCREASE
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Thursday, 22 September 16
CHINA IS THE PRICE-SETTING COUNTRY FOR GLOBAL THERMAL COAL
COALspot.com: China has been the driver of global coal growth since 2009. When China became the largest coal importer in 2011, the country also has ...
Thursday, 22 September 16
SUPRAMAXES ARE ACHIEVING AROUND $7000 FOR A TRIP WITH SINGAPORE DELIVERY VIA INDONESIA TO CHINA
Supramax
A slow start to the week in the Supramax segment in the Atlantic with not much being reported.
In the Blacksea Supramaxes are getti ...
Wednesday, 21 September 16
THE CAPESIZE MARKET HAS BEEN ON A RALLYING TREND SINCE THE END OF AUGUST - GEORGE LAZARIDIS
The Capesize market has been on a rallying trend since the end of August, fuelled mainly by the chase by traders to pre-stock before the typical pi ...
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- The Treasury - Australian Government
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Heidelberg Cement - Germany
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Sical Logistics Limited - India
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Alfred C Toepfer International GmbH - Germany
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- CNBM International Corporation - China
- Chettinad Cement Corporation Ltd - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Intertek Mineral Services - Indonesia
- Iligan Light & Power Inc, Philippines
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Latin American Coal - Colombia
- Standard Chartered Bank - UAE
- Formosa Plastics Group - Taiwan
- IEA Clean Coal Centre - UK
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- VISA Power Limited - India
- Eastern Coal Council - USA
- Videocon Industries ltd - India
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- ICICI Bank Limited - India
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- PNOC Exploration Corporation - Philippines
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Larsen & Toubro Limited - India
- Miang Besar Coal Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Economic Council, Georgia
- Baramulti Group, Indonesia
- Maheswari Brothers Coal Limited - India
- Bukit Baiduri Energy - Indonesia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Planning Commission, India
- Bhatia International Limited - India
- Interocean Group of Companies - India
- Africa Commodities Group - South Africa
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Essar Steel Hazira Ltd - India
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Tata Chemicals Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Bahari Cakrawala Sebuku - Indonesia
- Global Coal Blending Company Limited - Australia
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- TNB Fuel Sdn Bhd - Malaysia
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Altura Mining Limited, Indonesia
- Mjunction Services Limited - India
- Indian Oil Corporation Limited
- Coalindo Energy - Indonesia
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Pendopo Energi Batubara - Indonesia
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Madhucon Powers Ltd - India
- Goldman Sachs - Singapore
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Ministry of Finance - Indonesia
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- McConnell Dowell - Australia
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- Marubeni Corporation - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Mintek Dendrill Indonesia
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Minerals Council of Australia
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Directorate General of MIneral and Coal - Indonesia
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Global Business Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Global Green Power PLC Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Gujarat Sidhee Cement - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Semirara Mining and Power Corporation, Philippines
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