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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, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
...
Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
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Showing 36 to 40 news of total 6871 |
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- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- Bulk Trading Sa - Switzerland
- PowerSource Philippines DevCo
- Minerals Council of Australia
- MS Steel International - UAE
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Grasim Industreis Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Barasentosa Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sakthi Sugars Limited - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- Samtan Co., Ltd - South Korea
- India Bulls Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Cement Manufacturers Association - India
- Therma Luzon, Inc, Philippines
- Baramulti Group, Indonesia
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Sical Logistics Limited - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Siam City Cement PLC, Thailand
- Parliament of New Zealand
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Deloitte Consulting - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sindya Power Generating Company Private Ltd
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Binh Thuan Hamico - Vietnam
- Indian Oil Corporation Limited
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- PTC India Limited - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Alfred C Toepfer International GmbH - Germany
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
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