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