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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Meralco Power Generation, Philippines
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Karaikal Port Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Borneo Indobara - Indonesia
- Aboitiz Power Corporation - Philippines
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- White Energy Company Limited
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Price Waterhouse Coopers - Russia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Edison Trading Spa - Italy
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Interocean Group of Companies - India
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Australian Coal Association
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Planning Commission, India
- Madhucon Powers Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Renaissance Capital - South Africa
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- PTC India Limited - India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Minerals Council of Australia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Standard Chartered Bank - UAE
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Therma Luzon, Inc, Philippines
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Indika Energy - Indonesia
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Jindal Steel & Power Ltd - India
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Ministry of Finance - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mjunction Services Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- Central Electricity Authority - India
- Coal and Oil Company - UAE
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Xindia Steels Limited - India
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- LBH Netherlands Bv - Netherlands
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- MS Steel International - UAE
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Electricity Generating Authority of Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Neyveli Lignite Corporation Ltd, - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Bharathi Cement Corporation - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Global Business Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- IEA Clean Coal Centre - UK
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Sree Jayajothi Cements Limited - India
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- Dalmia Cement Bharat India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
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