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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, 29 August 16
THE 5000 GAR THERMAL COAL INDEX HAS STRENGTHENED BY 9.90% SINCE JANUARY
COALspot.com: A rally in thermal coal prices over the past few months, after years of decline, is still continuing upward and it is expected to ral ...
Monday, 29 August 16
THE FREIGHT MARKET WAS STEADY AND FIRM THIS PAST WEEK; BCI ROSE 18.74%
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities rose and ending in a positive note this past week except ...
Friday, 26 August 16
WEEKLY US COAL OUTPUT UP 0.7% W/W TO 16 MMST: EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16 million short tons ...
Thursday, 25 August 16
SUPRAMAXES ARE BEING FIXED IN REGION OF $9000
Supramax
Due to Chinese coal imports which continues to source much of the tonnage in SE Asia combined with a good flow of mineral exports ex Aus ...
Wednesday, 24 August 16
MARKET INSIGHT
Brazil and the world bid farewell on Sunday to the first Olympic Games in South America in the midst of a finale meant to be both one last bash and ...
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Showing 2306 to 2310 news of total 6871 |
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- New Zealand Coal & Carbon
- Gujarat Electricity Regulatory Commission - India
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Malabar Cements Ltd - India
- VISA Power Limited - India
- Barasentosa Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Georgia Ports Authority, United States
- Bahari Cakrawala Sebuku - Indonesia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Timah Investasi Mineral - Indoneisa
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Samtan Co., Ltd - South Korea
- Power Finance Corporation Ltd., India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Bhatia International Limited - India
- Parry Sugars Refinery, India
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Australian Coal Association
- Pendopo Energi Batubara - Indonesia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Global Business Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- CNBM International Corporation - China
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- San Jose City I Power Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Borneo Indobara - Indonesia
- Cement Manufacturers Association - India
- Indian Energy Exchange, India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- The State Trading Corporation of India Ltd
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Vijayanagar Sugar Pvt Ltd - India
- Central Java Power - Indonesia
- India Bulls Power Limited - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- Standard Chartered Bank - UAE
- Planning Commission, India
- Sical Logistics Limited - India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- Simpson Spence & Young - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vizag Seaport Private Limited - India
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Indogreen Group - Indonesia
- Central Electricity Authority - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- ASAPP Information Group - India
- London Commodity Brokers - England
- GVK Power & Infra Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Parliament of New Zealand
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
- Anglo American - United Kingdom
- Mintek Dendrill Indonesia
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Iligan Light & Power Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Vedanta Resources Plc - India
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