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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, 23 August 16
4200 GAR COAL INDEX CLIMB 15.96% YEAR TO DATE - CS COAL INDEX
COALspot.com: Average 4200 GAR coal index of Indonesian origin rose 1.65 % week over week to averaging $31.46 per ton this past week, shows CS (i) ...
Tuesday, 23 August 16
KOMIPO TO IMPORT 250K OF 5,700 KCAL/KG NAR COAL FOR Q4' 16
COALspot.com: South Korea state-owned utility Korea Midland Power (KOMIPO) issued a new tender for total 250,000 Metric Tons of Bituminous Coal for ...
Monday, 22 August 16
INDONESIA'S CS 5000 GAR THERMAL COAL INDEX, ROSE TO A 57-WEEKS HIGH TO TOP $43.47 A TON
COALspot.com: Indonesia’s CS 5000 GAR thermal coal index, rose to a 57-weeks high to top $US43. 47 a ton in the latest week, extending a 18-w ...
Monday, 22 August 16
THE FREIGHT MARKET WAS STEADY THIS PAST WEEK; CAPE INDEX DECLINE 5.38%
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, 19 August 16
U.S. YEAR-TO-DATE COAL PRODUCTION TOTALLED AN ESTIMATED 421.6 MMST
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.8 million short ton ...
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Showing 2311 to 2315 news of total 6871 |
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- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Star Paper Mills Limited - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Xindia Steels Limited - India
- Baramulti Group, Indonesia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Bhushan Steel Limited - India
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Trasteel International SA, Italy
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- South Luzon Thermal Energy Corporation
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- White Energy Company Limited
- Marubeni Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Gujarat Sidhee Cement - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SMG Consultants - Indonesia
- IEA Clean Coal Centre - UK
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Holcim Trading Pte Ltd - Singapore
- Electricity Generating Authority of Thailand
- Jorong Barutama Greston.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- PowerSource Philippines DevCo
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Metalloyd Limited - United Kingdom
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Binh Thuan Hamico - Vietnam
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- PTC India Limited - India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Sakthi Sugars Limited - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Therma Luzon, Inc, Philippines
- ICICI Bank Limited - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Timah Investasi Mineral - Indoneisa
- Petron Corporation, Philippines
- Ministry of Finance - Indonesia
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- European Bulk Services B.V. - Netherlands
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
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