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