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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, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Globalindo Alam Lestari - Indonesia
- Parry Sugars Refinery, India
- Australian Coal Association
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- SMG Consultants - Indonesia
- Videocon Industries ltd - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- IEA Clean Coal Centre - UK
- South Luzon Thermal Energy Corporation
- Samtan Co., Ltd - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Chamber of Mines of South Africa
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Edison Trading Spa - Italy
- Orica Australia Pty. Ltd.
- Merrill Lynch Commodities Europe
- Directorate Of Revenue Intelligence - India
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Ministry of Mines - Canada
- Port Waratah Coal Services - Australia
- Sarangani Energy Corporation, Philippines
- Dalmia Cement Bharat India
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Cigading International Bulk Terminal - Indonesia
- Independent Power Producers Association of India
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GVK Power & Infra Limited - India
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Jaiprakash Power Ventures ltd
- Kartika Selabumi Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Minerals Council of Australia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Georgia Ports Authority, United States
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Tamil Nadu electricity Board
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Wilmar Investment Holdings
- Parliament of New Zealand
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Ambuja Cements Ltd - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- European Bulk Services B.V. - Netherlands
- Bangladesh Power Developement Board
- PTC India Limited - India
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- CNBM International Corporation - China
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Meenaskhi Energy Private Limited - India
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- London Commodity Brokers - England
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- SN Aboitiz Power Inc, Philippines
- Marubeni Corporation - India
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- The Treasury - Australian Government
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
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