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Friday, 16 September 22
BIMCO EMBARKS ON NEW STANDARD FOR “QUIET ENJOYMENT”
 KNOWLEDGE TO ELEVATE
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing institutions and private practice lawyers from Asia, Europe and the US began work this week to develop a standard letter of quiet enjoyment (LQE) for use in long term charter and leasing structure financings.
There is currently no standard form of LQE available in the market and while LQEs have long been a feature of ship financing transactions, the lack of a standard form means that the wording of an LQE may often vary significantly from one transaction to another. In most cases, an LQE will be beneficial to all parties involved, namely by preserving the charterers’ uninterrupted use and enjoyment of a ship – and thereby ensuring a regular income for the owner – and an opportunity for the lenders to secure rights of their own, e.g. in relation to appointing a replacement owner.
“By bringing together all the relevant stakeholders, we are planning to develop a balanced standard that can be used in various types of structures, as always with the possibility of the parties tailoring it to their specific needs,” says Catherine Smith of Hong Kong based Wah Kwong, who is chairing the drafting team.
The LQE will complement BIMCO’s existing suite of ship financing and leasing standards, SHIPTERM and SHIPTERM S (for bilateral and syndicated term loan facilities) and SHIPLEASE (for ship sale and leasebacks). A standard Shipmanagers’ Letter of Undertaking is also available from BIMCO.
At its first meeting on 7-8 September, the drafting team in charge of the project discussed the scope and objectives of the project. The overall aim is to develop a standard that is workable both for time and bareboat charter contexts as well as leasing. Several versions might be developed, namely in the form of unilateral and multilateral party LQEs. The standard will not cater for more complex project financings and similar structures as these will typically be very deal specific and therefore have to be tailormade.
The team also includes Sarah Jane Thompson of BHP in Singapore, Gitte Vannus Kragelund of Danish Ship Finance in Copenhagen, Jay Shi of CMB Financial Leasing Co., Ltd. in Shanghai, Olga Petrovic of Linklaters in London and Gerald Morrisey of Holland & Knight in New York.
The drafting team will continue its work on 24-25 October.
Source: BIMCO
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Thursday, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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Showing 51 to 55 news of total 6871 |
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- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Goldman Sachs - Singapore
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Australian Commodity Traders Exchange
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- OPG Power Generation Pvt Ltd - India
- Ministry of Transport, Egypt
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- GVK Power & Infra Limited - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- New Zealand Coal & Carbon
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- ASAPP Information Group - India
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- GAC Shipping (India) Pvt Ltd
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- The University of Queensland
- Eastern Energy - Thailand
- Indika Energy - Indonesia
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Africa Commodities Group - South Africa
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Price Waterhouse Coopers - Russia
- VISA Power Limited - India
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Parliament of New Zealand
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Mjunction Services Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Formosa Plastics Group - Taiwan
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Kohat Cement Company Ltd. - Pakistan
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- PNOC Exploration Corporation - Philippines
- Economic Council, Georgia
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- IEA Clean Coal Centre - UK
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Salva Resources Pvt Ltd - India
- MS Steel International - UAE
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Gujarat Sidhee Cement - India
- Bukit Makmur.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Agrawal Coal Company - India
- Energy Development Corp, Philippines
- Altura Mining Limited, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Indo Tambangraya Megah - Indonesia
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- PTC India Limited - India
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