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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Energy Link Ltd, New Zealand
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Bayan Resources Tbk. - Indonesia
- Indonesian Coal Mining Association
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Gujarat Sidhee Cement - India
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Kalimantan Lumbung Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Semirara Mining Corp, Philippines
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Binh Thuan Hamico - Vietnam
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Miang Besar Coal Terminal - Indonesia
- ICICI Bank Limited - India
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- Uttam Galva Steels Limited - India
- Formosa Plastics Group - Taiwan
- Anglo American - United Kingdom
- Australian Coal Association
- Grasim Industreis Ltd - India
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Pendopo Energi Batubara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Chamber of Mines of South Africa
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- Karbindo Abesyapradhi - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The University of Queensland
- Global Coal Blending Company Limited - Australia
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Minerals Council of Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ambuja Cements Ltd - India
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- White Energy Company Limited
- Marubeni Corporation - India
- Central Java Power - Indonesia
- SMG Consultants - Indonesia
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Planning Commission, India
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cement Manufacturers Association - India
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Coalindo Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- GAC Shipping (India) Pvt Ltd
- VISA Power Limited - India
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- Larsen & Toubro Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Toyota Tsusho Corporation, Japan
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Indika Energy - Indonesia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Star Paper Mills Limited - India
- Bharathi Cement Corporation - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Kobexindo Tractors - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Agrawal Coal Company - India
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
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