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