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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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Tuesday, 23 May 23
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Saturday, 20 May 23
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GLOBAL COAL TRADE HAS REALLY PICKED UP PACE IN RECENT MONTHS, NOW FULLY BACK TO PRE-COVID LEVELS - BANCHERO COSTA
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Showing 101 to 105 news of total 6871 |
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- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
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- White Energy Company Limited
- Alfred C Toepfer International GmbH - Germany
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- GVK Power & Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Larsen & Toubro Limited - India
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Semirara Mining and Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Oldendorff Carriers - Singapore
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
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- Maharashtra Electricity Regulatory Commission - India
- Attock Cement Pakistan Limited
- Iligan Light & Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- LBH Netherlands Bv - Netherlands
- Kalimantan Lumbung Energi - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Ambuja Cements Ltd - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Uttam Galva Steels Limited - India
- Australian Coal Association
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Intertek Mineral Services - Indonesia
- SMC Global Power, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Global Coal Blending Company Limited - Australia
- Ministry of Transport, Egypt
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- European Bulk Services B.V. - Netherlands
- Sojitz Corporation - Japan
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
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- Indian Energy Exchange, India
- Samtan Co., Ltd - South Korea
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Africa Commodities Group - South Africa
- Trasteel International SA, Italy
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Chamber of Mines of South Africa
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Mjunction Services Limited - India
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Tamil Nadu electricity Board
- Planning Commission, India
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- India Bulls Power Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- Romanian Commodities Exchange
- Aboitiz Power Corporation - Philippines
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Aditya Birla Group - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Price Waterhouse Coopers - Russia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement - Thailand
- Meralco Power Generation, Philippines
- Electricity Authority, New Zealand
- Gujarat Sidhee Cement - India
- Directorate General of MIneral and Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bukit Makmur.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
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- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- New Zealand Coal & Carbon
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