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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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- Indika Energy - Indonesia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- ICICI Bank Limited - India
- ASAPP Information Group - India
- Sree Jayajothi Cements Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Formosa Plastics Group - Taiwan
- CNBM International Corporation - China
- Posco Energy - South Korea
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- Central Electricity Authority - India
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- PTC India Limited - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Asmin Koalindo Tuhup - Indonesia
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Australian Coal Association
- VISA Power Limited - India
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Heidelberg Cement - Germany
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Eastern Coal Council - USA
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Binh Thuan Hamico - Vietnam
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Rashtriya Ispat Nigam Limited - India
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Indonesian Coal Mining Association
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- PNOC Exploration Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- White Energy Company Limited
- New Zealand Coal & Carbon
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Karaikal Port Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Energy Development Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Interocean Group of Companies - India
- Gujarat Mineral Development Corp Ltd - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- SN Aboitiz Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- LBH Netherlands Bv - Netherlands
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Maheswari Brothers Coal Limited - India
- Sojitz Corporation - Japan
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- The Treasury - Australian Government
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Indogreen Group - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Meenaskhi Energy Private Limited - India
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Krishnapatnam Port Company Ltd. - India
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Siam City Cement PLC, Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Gujarat Sidhee Cement - India
- Grasim Industreis Ltd - India
- Sarangani Energy Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Star Paper Mills Limited - India
- Coastal Gujarat Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Bulk Trading Sa - Switzerland
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Carbofer General Trading SA - India
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