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Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
 BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can ensure the charterers’ uninterrupted use of a ship if the owner defaults under the financing facility.
The QELs will be provided by the lender to the charterer to ensure that the charterer, who does not have a contractual relationship with the lender but only with the owner, can continue to “quietly enjoy” the ship in case of the owner’s default.
In return, the charterer gives a certain number of undertakings, including not to cancel the charter party and to continue to pay amounts due under the charter party. The QELs also offer lenders an opportunity to secure their rights, such as appointing a replacement owner in case of a default.
“The two new forms fill a gap in the market where no such standard form is currently available. They are distinct because they are beneficial to charterers, lenders and owners,” says Nicholas Fell, Chairperson of BIMCO’s Documentary Committee.
The QELs have been developed in a collaborative process involving representatives of owners (Wah Kwong and Oldendorff Carriers), charterers (BHP and Noble Resources International), lenders (Danish Ship Finance), leasing institutions (CMB Financial Leasing Co. Ltd.) and legal experts (Linklaters LLP and Holland & Knight LLP).
“The objective of the subcommittee in charge of the project was to create a balanced standard that reflects market practice and fairly represents the rights and obligations of all parties,” says Catherine Smith, Chairperson of the BIMCO QEL subcommittee.
Two versions of the QEL have been developed: a standard quiet enjoyment letter signed by the lender and agreed by the owner and charterer, and a “short form” version which is signed only by the lender.
The QELs have been drafted for use with bareboat and time charter parties, as well as ship leasing structures, and complement BIMCO’s existing portfolio of term sheets for ship financing and ship sale and leaseback transactions which includes the SHIPTERM, SHIPTERM S and SHIPLEASE term sheets.
Source: BIMCO
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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 ...
Monday, 08 January 24
KOSPO TO BUY 80000 MT OF INDONESIAN LOW CALORIFIC VALUE COAL FOR FEB 2024
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for the supply of Indonesian Low Calorific Value Coal from qualified suppliers for Korean ...
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Showing 51 to 55 news of total 6871 |
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- Central Java Power - Indonesia
- Minerals Council of Australia
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- Interocean Group of Companies - India
- PNOC Exploration Corporation - Philippines
- Formosa Plastics Group - Taiwan
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Videocon Industries ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- The University of Queensland
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- SMG Consultants - Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Madhucon Powers Ltd - India
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Borneo Indobara - Indonesia
- Sree Jayajothi Cements Limited - India
- Bharathi Cement Corporation - India
- South Luzon Thermal Energy Corporation
- Bahari Cakrawala Sebuku - Indonesia
- Independent Power Producers Association of India
- PTC India Limited - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- SN Aboitiz Power Inc, Philippines
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Global Business Power Corporation, Philippines
- Coal and Oil Company - UAE
- Holcim Trading Pte Ltd - Singapore
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Price Waterhouse Coopers - Russia
- Global Coal Blending Company Limited - Australia
- Indian Energy Exchange, India
- Therma Luzon, Inc, Philippines
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- London Commodity Brokers - England
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Power Finance Corporation Ltd., India
- Metalloyd Limited - United Kingdom
- SMC Global Power, Philippines
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Indika Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Thiess Contractors Indonesia
- Ambuja Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Oldendorff Carriers - Singapore
- Antam Resourcindo - Indonesia
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Rio Tinto Coal - Australia
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Cement Manufacturers Association - India
- Orica Australia Pty. Ltd.
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Indian Oil Corporation Limited
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- McConnell Dowell - Australia
- Makarim & Taira - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Parliament of New Zealand
- Economic Council, Georgia
- Anglo American - United Kingdom
- Xindia Steels Limited - India
- Bhatia International Limited - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Standard Chartered Bank - UAE
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Electricity Generating Authority of Thailand
- Goldman Sachs - Singapore
- CIMB Investment Bank - Malaysia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Global Green Power PLC Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- International Coal Ventures Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Sindya Power Generating Company Private Ltd
- Siam City Cement PLC, Thailand
- Ministry of Finance - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
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