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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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- Ambuja Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Gujarat Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Makarim & Taira - Indonesia
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Kohat Cement Company Ltd. - Pakistan
- SN Aboitiz Power Inc, Philippines
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Vedanta Resources Plc - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- Sojitz Corporation - Japan
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Timah Investasi Mineral - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Parry Sugars Refinery, India
- Bulk Trading Sa - Switzerland
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Merrill Lynch Commodities Europe
- Larsen & Toubro Limited - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Medco Energi Mining Internasional
- Bhatia International Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Agrawal Coal Company - India
- Petrochimia International Co. Ltd.- Taiwan
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Oldendorff Carriers - Singapore
- Central Electricity Authority - India
- Binh Thuan Hamico - Vietnam
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Eastern Coal Council - USA
- Rio Tinto Coal - Australia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Renaissance Capital - South Africa
- Singapore Mercantile Exchange
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Riau Bara Harum - Indonesia
- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Commonwealth Bank - Australia
- Aditya Birla Group - India
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- New Zealand Coal & Carbon
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Trasteel International SA, Italy
- Miang Besar Coal Terminal - Indonesia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Carbofer General Trading SA - India
- Ceylon Electricity Board - Sri Lanka
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Australian Commodity Traders Exchange
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- India Bulls Power Limited - India
- Meralco Power Generation, Philippines
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- San Jose City I Power Corp, Philippines
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Sakthi Sugars Limited - India
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Lanco Infratech Ltd - India
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Salva Resources Pvt Ltd - India
- Romanian Commodities Exchange
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- IEA Clean Coal Centre - UK
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Georgia Ports Authority, United States
- Deloitte Consulting - India
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