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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
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Showing 31 to 35 news of total 6871 |
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- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Makarim & Taira - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Krishnapatnam Port Company Ltd. - India
- Antam Resourcindo - Indonesia
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Therma Luzon, Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Indika Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Kapuas Tunggal Persada - Indonesia
- Ministry of Transport, Egypt
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Savvy Resources Ltd - HongKong
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- South Luzon Thermal Energy Corporation
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- ICICI Bank Limited - India
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Tata Chemicals Ltd - India
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Goldman Sachs - Singapore
- Xindia Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Chamber of Mines of South Africa
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Price Waterhouse Coopers - Russia
- Jorong Barutama Greston.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Mercuria Energy - Indonesia
- Eastern Energy - Thailand
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- SMG Consultants - Indonesia
- Mercator Lines Limited - India
- Edison Trading Spa - Italy
- Directorate General of MIneral and Coal - Indonesia
- Kumho Petrochemical, South Korea
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Aboitiz Power Corporation - Philippines
- Thiess Contractors Indonesia
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Jaiprakash Power Ventures ltd
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Electricity Generating Authority of Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Timah Investasi Mineral - Indoneisa
- Iligan Light & Power Inc, Philippines
- LBH Netherlands Bv - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- IHS Mccloskey Coal Group - USA
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Deloitte Consulting - India
- OPG Power Generation Pvt Ltd - India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Merrill Lynch Commodities Europe
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Baramulti Group, Indonesia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- McConnell Dowell - Australia
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- Carbofer General Trading SA - India
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indonesian Coal Mining Association
- Maheswari Brothers Coal Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- Minerals Council of Australia
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