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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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Showing 16 to 20 news of total 6871 |
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- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- Leighton Contractors Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Essar Steel Hazira Ltd - India
- Orica Mining Services - Indonesia
- Sarangani Energy Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Bharathi Cement Corporation - India
- Latin American Coal - Colombia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Australian Coal Association
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Bangladesh Power Developement Board
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Gujarat Sidhee Cement - India
- Romanian Commodities Exchange
- Australian Commodity Traders Exchange
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- The University of Queensland
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Global Business Power Corporation, Philippines
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Iligan Light & Power Inc, Philippines
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Chamber of Mines of South Africa
- Oldendorff Carriers - Singapore
- Georgia Ports Authority, United States
- ASAPP Information Group - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
- Minerals Council of Australia
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
- Sree Jayajothi Cements Limited - India
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Planning Commission, India
- Lanco Infratech Ltd - India
- Borneo Indobara - Indonesia
- South Luzon Thermal Energy Corporation
- Directorate General of MIneral and Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Larsen & Toubro Limited - India
- Bukit Baiduri Energy - Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Siam City Cement PLC, Thailand
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- GN Power Mariveles Coal Plant, Philippines
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- CIMB Investment Bank - Malaysia
- Economic Council, Georgia
- SMC Global Power, Philippines
- Ministry of Finance - Indonesia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- San Jose City I Power Corp, Philippines
- Marubeni Corporation - India
- Ministry of Mines - Canada
- Malabar Cements Ltd - India
- Antam Resourcindo - Indonesia
- Videocon Industries ltd - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- SMG Consultants - Indonesia
- Aboitiz Power Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Binh Thuan Hamico - Vietnam
- Bhatia International Limited - India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Vedanta Resources Plc - India
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
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