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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, 12 August 16
U.S. WEEKLY COAL OUTPUT ENDING AUGUST 6 FELL SLIGHTLY
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 15.9 million short ton ...
Thursday, 11 August 16
CAPESIZE THE PACIFIC SIDE IS LOOKING MORE POSITIVE, DRIVEN BY AUSTRALIAN IRON ORE - FEARNLEYS
Supramax
Rates continue to be under pressure with index ending up with 639 points and average TC value at USD6,680, said Fearnleys. Fearnleys A/S ...
Thursday, 11 August 16
EIA ESTIMATES THE DELIVERED COAL PRICE TO U.S. ELECTRIC UTILITIES IN 2017 AVERAGED $2.24/MMBTU; $0.05/MMBTU HIGHER THAN 2016 ESTIMATES
Coal Supply
U.S. coal production in July was 65 million short tons (MMst), an 8 MMst (14%) increase from the previous month but 11 MMst (15%) low ...
Wednesday, 10 August 16
THE DRY BULK MARKET KEPT SOFTENING LAST WEEK; WE CAN SEE MUCH HEALTHIER NUMBERS STARTING SEPTEMBER
The Dry Bulk market kept softening last week as we have now started going through the traditionally quieter days of the summer season peak period, ...
Wednesday, 10 August 16
THE INDONESIAN DRAFT NEW MINING LAW - AMENDMENTS TO THE 2009 MINING LAW
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
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- PetroVietnam Power Coal Import and Supply Company
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Latin American Coal - Colombia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- San Jose City I Power Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Indian Energy Exchange, India
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Krishnapatnam Port Company Ltd. - India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Mintek Dendrill Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- London Commodity Brokers - England
- Indika Energy - Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- MS Steel International - UAE
- Bukit Makmur.PT - Indonesia
- Riau Bara Harum - Indonesia
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- SMC Global Power, Philippines
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Mining Services - Indonesia
- Mercuria Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Petron Corporation, Philippines
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Ambuja Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Bukit Baiduri Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Wilmar Investment Holdings
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Romanian Commodities Exchange
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Edison Trading Spa - Italy
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- GMR Energy Limited - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Energy Development Corp, Philippines
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- GVK Power & Infra Limited - India
- Anglo American - United Kingdom
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Holcim Trading Pte Ltd - Singapore
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Karbindo Abesyapradhi - Indoneisa
- Vedanta Resources Plc - India
- Parliament of New Zealand
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- VISA Power Limited - India
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