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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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Friday, 02 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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Showing 6 to 10 news of total 6871 |
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- London Commodity Brokers - England
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Posco Energy - South Korea
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Independent Power Producers Association of India
- Goldman Sachs - Singapore
- Videocon Industries ltd - India
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Kartika Selabumi Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- McConnell Dowell - Australia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- The University of Queensland
- PTC India Limited - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Interocean Group of Companies - India
- Power Finance Corporation Ltd., India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- IEA Clean Coal Centre - UK
- Banpu Public Company Limited - Thailand
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- CIMB Investment Bank - Malaysia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Aditya Birla Group - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement PLC, Thailand
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Anglo American - United Kingdom
- Sarangani Energy Corporation, Philippines
- Romanian Commodities Exchange
- Vizag Seaport Private Limited - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Maheswari Brothers Coal Limited - India
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Oldendorff Carriers - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Timah Investasi Mineral - Indoneisa
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Planning Commission, India
- Bayan Resources Tbk. - Indonesia
- Binh Thuan Hamico - Vietnam
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Attock Cement Pakistan Limited
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Energy Link Ltd, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Georgia Ports Authority, United States
- Ind-Barath Power Infra Limited - India
- ICICI Bank Limited - India
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- GVK Power & Infra Limited - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Straits Asia Resources Limited - Singapore
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- Central Electricity Authority - India
- India Bulls Power Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Larsen & Toubro Limited - India
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Australian Coal Association
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Wood Mackenzie - Singapore
- Xindia Steels Limited - India
- Madhucon Powers Ltd - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Kaltim Prima Coal - Indonesia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- AsiaOL BioFuels Corp., Philippines
- Economic Council, Georgia
- Metalloyd Limited - United Kingdom
- Vedanta Resources Plc - India
- Chamber of Mines of South Africa
- Central Java Power - Indonesia
- Meenaskhi Energy Private Limited - India
- Petron Corporation, Philippines
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Leighton Contractors Pty Ltd - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
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