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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 $250,000 above reserve.”
South Africa has become a global player for arrested vessels and is attracting strong bidding appetite from abroad. The prices being paid are based on free market demand and supply, and with competitive bidding it is a fair indication of the value that the market places. What is strong to witness is the new players entering the ship trading game, who are in a financial position to settle payment within 5 days votes toets.
Adds Kuper, “Out of adversity comes opportunity for a new generation of maritime players to enter the game with a more sophisticated 21st century understating of prevailing market conditions.’’
Source: Clear Asset | Hellenic Shipping News
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Tuesday, 06 September 16
INDO GOVT. SETS SEPTEMBER COAL REFERENCE PRICE AT US$ 63.93 PER TON; JUMP 20.17% YTD
COALspot.com: The Indonesia coal benchmark price hits to its highest level since April 2015. The government declared benchmark prices f ...
Tuesday, 06 September 16
CAPESIZE: THE PACIFIC BASIN WAS THE MAIN REGION KEEPING UP WITH THE POSITIVE SUPPORT - ALLIED
Capesize
Despite some mixed feelings being seen early on in the week, we managed to see a positive week-on-week close on Friday with some positiv ...
Monday, 05 September 16
INDIA BECAME ADARO'S SECOND LARGEST MARKET IN 1H' 16
COALspot.com: The Wara Balangan blend product has been well received by customers in China and India - AI
In the second quarter of 2 ...
Monday, 05 September 16
POOR FREIGHT RATES DESPITE STRONG DEMAND GROWTH FROM CHINA - BIMCO
Demand
The dry bulk commodity imports into and exports out of China we have seen in the first half of 2016 are very positive – and nothing ...
Monday, 05 September 16
FREIGHT RATE FROM INDONESIA TO INDIA IS EXPECTED TO BE FLAT TO SOFT THIS WEEK
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
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- Therma Luzon, Inc, Philippines
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Sinarmas Energy and Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Kalimantan Lumbung Energi - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Merrill Lynch Commodities Europe
- The University of Queensland
- GVK Power & Infra Limited - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Star Paper Mills Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- Sindya Power Generating Company Private Ltd
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Heidelberg Cement - Germany
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Ministry of Mines - Canada
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Sakthi Sugars Limited - India
- Georgia Ports Authority, United States
- Minerals Council of Australia
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Wood Mackenzie - Singapore
- Coalindo Energy - Indonesia
- Malabar Cements Ltd - India
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Anglo American - United Kingdom
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Jindal Steel & Power Ltd - India
- White Energy Company Limited
- Chamber of Mines of South Africa
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Salva Resources Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Jaiprakash Power Ventures ltd
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Iligan Light & Power Inc, Philippines
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Lanco Infratech Ltd - India
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Maharashtra Electricity Regulatory Commission - India
- Planning Commission, India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- MS Steel International - UAE
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- McConnell Dowell - Australia
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Vedanta Resources Plc - India
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Uttam Galva Steels Limited - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Posco Energy - South Korea
- ICICI Bank Limited - India
- The State Trading Corporation of India Ltd
- Billiton Holdings Pty Ltd - Australia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Barasentosa Lestari - Indonesia
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- Bhushan Steel Limited - India
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Coastal Gujarat Power Limited - India
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