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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, 02 September 16
EIA FORECASTS U.S. COAL EXPORTS TO DECLINE BY 19 MMST IN 2016 TO 55 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.3 million sho ...
Thursday, 01 September 16
SUPRAMAX GETTING LEVELS OF MID/HIGHER 7K DELIVERY SINGAPORE FOR TRIPS TO CHINA AND AROUND 9K FOR DIRECTION INDIA - FEARNLEYS
Supramax
This week started slower with London on bank holiday Monday. The south east Asian market seems to have been taking a breather with chart ...
Thursday, 01 September 16
AUSTRALIA'S NEWCASTLE PORT SHIPPED 2.33 PERCENT MORE COAL IN JULY
COALspot.com: The Port of Newcastle, Australia’s major trading ports and the world’s largest coal export port has shipped $AU 1.10 bill ...
Wednesday, 31 August 16
THE DRY BULK MARKET MANAGED TO FIND FURTHER SUPPORT DURING THE LAST DAYS OF THE SUMMER SEASON - INTERMODAL
The Dry Bulk market managed to find further support during the last days of the summer season, with the BDI climbing above 700 last Friday, reachin ...
Tuesday, 30 August 16
THE SUDDEN SURGE IN IRON ORE TRADE HAS CREPT UP ON THE MARKET THIS PAST WEEK - GEORGE LAZARIDIS
The sudden surge in Iron ore trade has crept up on the market this past week bringing about a change in the prospects for Capes. Continued increase ...
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- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Bayan Resources Tbk. - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Mercator Lines Limited - India
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- Latin American Coal - Colombia
- Riau Bara Harum - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Madhucon Powers Ltd - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Australian Coal Association
- Singapore Mercantile Exchange
- Jorong Barutama Greston.PT - Indonesia
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- White Energy Company Limited
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- ASAPP Information Group - India
- Videocon Industries ltd - India
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Energy Development Corp, Philippines
- Independent Power Producers Association of India
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Deloitte Consulting - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Indo Tambangraya Megah - Indonesia
- Electricity Authority, New Zealand
- Eastern Energy - Thailand
- Price Waterhouse Coopers - Russia
- Sinarmas Energy and Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Savvy Resources Ltd - HongKong
- Kumho Petrochemical, South Korea
- Sojitz Corporation - Japan
- Cigading International Bulk Terminal - Indonesia
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- OPG Power Generation Pvt Ltd - India
- Coalindo Energy - Indonesia
- Global Business Power Corporation, Philippines
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Anglo American - United Kingdom
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Planning Commission, India
- Manunggal Multi Energi - Indonesia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- PTC India Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Aditya Birla Group - India
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Ind-Barath Power Infra Limited - India
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Barasentosa Lestari - Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Rio Tinto Coal - Australia
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Straits Asia Resources Limited - Singapore
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Marubeni Corporation - India
- European Bulk Services B.V. - Netherlands
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Kaltim Prima Coal - Indonesia
- VISA Power Limited - India
- Larsen & Toubro Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Siam City Cement - Thailand
- Indian Oil Corporation Limited
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