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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, 08 August 16
THE BALTIC EXCHANGE, TRACKING RATES FOR SHIPS CARRYING DRY BULK COMMODITIES SLIDE SLIGHTLY
COALspot.com: The Baltic Exchange, tracking rates for ships carrying dry bulk commodities slide slightly as Panamax and Supramax segments ending in ...
Monday, 08 August 16
ARE EXPENSES INCURRED DURING NEGOTIATION OF A PIRATE RANSOM RECOVERABLE IN GENERAL AVERAGE? - CLYDE&CO
KNOWLEDGE TO ELEVATE
Facts
The laden chemical tanker LONGCHAMP was transiting the Gulf of Aden on passage to Vietnam. The ship was subject t ...
Saturday, 06 August 16
DRY BULK SHIPPING CHARTER RATES TO RISE ON UNEXPECTED DEMAND GROWTH - DREWRY
Increasing trade and contracting supply will support a recovery in charter rates on major dry bulk shipping routes, with the prospect of China impo ...
Friday, 05 August 16
WEEKLY U.S. COAL OUTPUT TOTALED AN ESTIMATED 16.1 MMST IN THE WEEK ENDED JULY 30 - EIA
COALspot.com – U.S., the world’s second largest coal producers has produced approximately totalled an estimated 16.1 million short tons ...
Friday, 05 August 16
CAPESIZE : RATES ARE REMAINING AT DEPRESSING LEVELS DUE TO LACK OF FRESH CARGOES - FEARNLEYS
Supramax
Last week has been one of the slowest for some time with rates under pressure in most areas.
In its latest weekly report, shipbroke ...
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- Mjunction Services Limited - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- LBH Netherlands Bv - Netherlands
- Parry Sugars Refinery, India
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Iligan Light & Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Kapuas Tunggal Persada - Indonesia
- Uttam Galva Steels Limited - India
- SMC Global Power, Philippines
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- TeaM Sual Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Miang Besar Coal Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Energy Development Corp, Philippines
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Attock Cement Pakistan Limited
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Medco Energi Mining Internasional
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- Anglo American - United Kingdom
- Australian Coal Association
- Indian Oil Corporation Limited
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Indo Tambangraya Megah - Indonesia
- Orica Mining Services - Indonesia
- Aditya Birla Group - India
- Price Waterhouse Coopers - Russia
- GAC Shipping (India) Pvt Ltd
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Commonwealth Bank - Australia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- The University of Queensland
- Ceylon Electricity Board - Sri Lanka
- Kohat Cement Company Ltd. - Pakistan
- CIMB Investment Bank - Malaysia
- Indogreen Group - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Orica Australia Pty. Ltd.
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- Singapore Mercantile Exchange
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Agrawal Coal Company - India
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- European Bulk Services B.V. - Netherlands
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Indika Energy - Indonesia
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Billiton Holdings Pty Ltd - Australia
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Cement Manufacturers Association - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Eastern Energy - Thailand
- Lanco Infratech Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- VISA Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- GMR Energy Limited - India
- Coastal Gujarat Power Limited - India
- Economic Council, Georgia
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Parliament of New Zealand
- Directorate Of Revenue Intelligence - India
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Holcim Trading Pte Ltd - Singapore
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
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