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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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Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
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- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Malabar Cements Ltd - India
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- PetroVietnam Power Coal Import and Supply Company
- Binh Thuan Hamico - Vietnam
- Ministry of Finance - Indonesia
- Riau Bara Harum - Indonesia
- AsiaOL BioFuels Corp., Philippines
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Planning Commission, India
- Bangladesh Power Developement Board
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- European Bulk Services B.V. - Netherlands
- The University of Queensland
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Global Coal Blending Company Limited - Australia
- Goldman Sachs - Singapore
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Thai Mozambique Logistica
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Economic Council, Georgia
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Kaltim Prima Coal - Indonesia
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Miang Besar Coal Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Mintek Dendrill Indonesia
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kideco Jaya Agung - Indonesia
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- Indogreen Group - Indonesia
- Metalloyd Limited - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Minerals Council of Australia
- Maheswari Brothers Coal Limited - India
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- Mercator Lines Limited - India
- Deloitte Consulting - India
- Star Paper Mills Limited - India
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Ceylon Electricity Board - Sri Lanka
- Vijayanagar Sugar Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Trasteel International SA, Italy
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Orica Australia Pty. Ltd.
- Eastern Energy - Thailand
- Vedanta Resources Plc - India
- Indonesian Coal Mining Association
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Australian Coal Association
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Ambuja Cements Ltd - India
- Independent Power Producers Association of India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Coal and Oil Company - UAE
- ASAPP Information Group - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Chettinad Cement Corporation Ltd - India
- Kobexindo Tractors - Indoneisa
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