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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Miang Besar Coal Terminal - Indonesia
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Agrawal Coal Company - India
- Ministry of Finance - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- PowerSource Philippines DevCo
- PTC India Limited - India
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- The State Trading Corporation of India Ltd
- Essar Steel Hazira Ltd - India
- Bhatia International Limited - India
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Iligan Light & Power Inc, Philippines
- Tata Chemicals Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- South Luzon Thermal Energy Corporation
- Timah Investasi Mineral - Indoneisa
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Star Paper Mills Limited - India
- Global Green Power PLC Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bharathi Cement Corporation - India
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- Standard Chartered Bank - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Straits Asia Resources Limited - Singapore
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Semirara Mining and Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Transport, Egypt
- Videocon Industries ltd - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Australian Coal Association
- The Treasury - Australian Government
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- The University of Queensland
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Gujarat Mineral Development Corp Ltd - India
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Mercator Lines Limited - India
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- Malabar Cements Ltd - India
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Parry Sugars Refinery, India
- India Bulls Power Limited - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Thai Mozambique Logistica
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement - Thailand
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Merrill Lynch Commodities Europe
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Jaiprakash Power Ventures ltd
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