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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, 09 August 16
CS50 COAL INDEX HITS NEW FIFTY-WEEKS HIGH
COALspot.com: Average 5000 GAR coal index of Indonesian origin rose 1.78% week over week to averaging $41.85 per ton this past week, shows CS (i) C ...
Tuesday, 09 August 16
HARD COAL PRODUCTION AND WORLD TRADE ON THE DECLINE FOR THE FIRST TIME IN YEARS - VDKI
Hard coal production and world trade on the decline for the first time in years – not a harbinger of a global energy turnaround
Worldwid ...
Tuesday, 09 August 16
BREXIT, BRITANNIA AND THE WAVES - TREVOR CROWE, CLARKSON RESEARCH
This week, the Bank of England put into place its action plan following the UK referendum on 23rd June, which indicated the British population&rsqu ...
Monday, 08 August 16
INDONESIA'S DRAFT MINING LAW HINTS AT FUTURE REGULATORY FRAMEWORK
KNOWLEDGE TO ELEVATE
COALspot.com: A draft mining law published by Indonesia's Minister of Energy and Mineral Resources provides use ...
Monday, 08 August 16
THE TURKISH GOVERNMENT HAS IMPOSED A $15 A TON DUTY ON POWER PLANT COAL IMPORTS - MEDIA
COALspot.com: The Turkish government has imposed a US$15 per ton duty on thermal coal imports for use in its power sector.
According to media ...
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- Electricity Generating Authority of Thailand
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- SMC Global Power, Philippines
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- South Luzon Thermal Energy Corporation
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Billiton Holdings Pty Ltd - Australia
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- Savvy Resources Ltd - HongKong
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Indogreen Group - Indonesia
- Sojitz Corporation - Japan
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Wilmar Investment Holdings
- Central Electricity Authority - India
- Holcim Trading Pte Ltd - Singapore
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Marubeni Corporation - India
- ASAPP Information Group - India
- Standard Chartered Bank - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Star Paper Mills Limited - India
- Romanian Commodities Exchange
- Sarangani Energy Corporation, Philippines
- Wood Mackenzie - Singapore
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Australian Coal Association
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Aboitiz Power Corporation - Philippines
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Global Coal Blending Company Limited - Australia
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Planning Commission, India
- Kepco SPC Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Mercuria Energy - Indonesia
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Bukit Asam (Persero) Tbk - Indonesia
- Renaissance Capital - South Africa
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- White Energy Company Limited
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
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