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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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Monday, 12 September 16
THE CAPE MARKET HAS GAINS ON WEEK; THE CAPE INDEX SETTLING AT 1566 POINTS ON FRIDAY
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 ...
Friday, 09 September 16
U.S. WEEKLY COAL OUTPUT DECLINED SLIGHTLY TO 16.1 MMST, EIA SAYS
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.1 million short ton ...
Friday, 09 September 16
CAPESIZE: THE SENTIMENT IS SOLID, SAYS FEARNLEYS
Supramax
A quiet start with Labour Day celebrations in the United States leading to very little being reported from the Atlantic basin. Supramaxe ...
Thursday, 08 September 16
U.S. COAL EXPORTS IN JUNE 2016 UP 29% COMPARED TO MAY 2016, SAYS EIA
U.S. coal production in August was 71 million short tons (MMst), which is 6 MMst (9%) higher than in the previous month and 12 MMst (14%) lower tha ...
Wednesday, 07 September 16
WEEKLY MARKET (TANKER) REPORT - INTERMODAL
What goes around comes around! The Shipping industry is infamous for its seasonality and cyclicality and the tanker sector is no exception to these ...
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- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Intertek Mineral Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Cigading International Bulk Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- TNB Fuel Sdn Bhd - Malaysia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Sical Logistics Limited - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- India Bulls Power Limited - India
- Interocean Group of Companies - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- PNOC Exploration Corporation - Philippines
- Parliament of New Zealand
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Bhatia International Limited - India
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Cement Manufacturers Association - India
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- IHS Mccloskey Coal Group - USA
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Electricity Generating Authority of Thailand
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Tamil Nadu electricity Board
- Electricity Authority, New Zealand
- European Bulk Services B.V. - Netherlands
- Parry Sugars Refinery, India
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Semirara Mining and Power Corporation, Philippines
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Chamber of Mines of South Africa
- Orica Australia Pty. Ltd.
- San Jose City I Power Corp, Philippines
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- Meenaskhi Energy Private Limited - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Altura Mining Limited, Indonesia
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Australian Commodity Traders Exchange
- Edison Trading Spa - Italy
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Minerals Council of Australia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Thiess Contractors Indonesia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- SMG Consultants - Indonesia
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- Siam City Cement PLC, Thailand
- Petrochimia International Co. Ltd.- Taiwan
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
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