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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, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
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Showing 41 to 45 news of total 6871 |
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- Karbindo Abesyapradhi - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Xindia Steels Limited - India
- Indian Energy Exchange, India
- Binh Thuan Hamico - Vietnam
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Independent Power Producers Association of India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- London Commodity Brokers - England
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- White Energy Company Limited
- Posco Energy - South Korea
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Marubeni Corporation - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- The University of Queensland
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Manunggal Multi Energi - Indonesia
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- SMG Consultants - Indonesia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Jaiprakash Power Ventures ltd
- ICICI Bank Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sojitz Corporation - Japan
- Jorong Barutama Greston.PT - Indonesia
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Attock Cement Pakistan Limited
- Essar Steel Hazira Ltd - India
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- GMR Energy Limited - India
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Central Electricity Authority - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- Vedanta Resources Plc - India
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- IHS Mccloskey Coal Group - USA
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement - Thailand
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Mjunction Services Limited - India
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GVK Power & Infra Limited - India
- Lanco Infratech Ltd - India
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Eastern Energy - Thailand
- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Bhushan Steel Limited - India
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- South Luzon Thermal Energy Corporation
- Global Coal Blending Company Limited - Australia
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Central Java Power - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
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