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Friday, 16 September 22
BIMCO EMBARKS ON NEW STANDARD FOR “QUIET ENJOYMENT”
 KNOWLEDGE TO ELEVATE
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing institutions and private practice lawyers from Asia, Europe and the US began work this week to develop a standard letter of quiet enjoyment (LQE) for use in long term charter and leasing structure financings.
There is currently no standard form of LQE available in the market and while LQEs have long been a feature of ship financing transactions, the lack of a standard form means that the wording of an LQE may often vary significantly from one transaction to another. In most cases, an LQE will be beneficial to all parties involved, namely by preserving the charterers’ uninterrupted use and enjoyment of a ship – and thereby ensuring a regular income for the owner – and an opportunity for the lenders to secure rights of their own, e.g. in relation to appointing a replacement owner.
“By bringing together all the relevant stakeholders, we are planning to develop a balanced standard that can be used in various types of structures, as always with the possibility of the parties tailoring it to their specific needs,” says Catherine Smith of Hong Kong based Wah Kwong, who is chairing the drafting team.
The LQE will complement BIMCO’s existing suite of ship financing and leasing standards, SHIPTERM and SHIPTERM S (for bilateral and syndicated term loan facilities) and SHIPLEASE (for ship sale and leasebacks). A standard Shipmanagers’ Letter of Undertaking is also available from BIMCO.
At its first meeting on 7-8 September, the drafting team in charge of the project discussed the scope and objectives of the project. The overall aim is to develop a standard that is workable both for time and bareboat charter contexts as well as leasing. Several versions might be developed, namely in the form of unilateral and multilateral party LQEs. The standard will not cater for more complex project financings and similar structures as these will typically be very deal specific and therefore have to be tailormade.
The team also includes Sarah Jane Thompson of BHP in Singapore, Gitte Vannus Kragelund of Danish Ship Finance in Copenhagen, Jay Shi of CMB Financial Leasing Co., Ltd. in Shanghai, Olga Petrovic of Linklaters in London and Gerald Morrisey of Holland & Knight in New York.
The drafting team will continue its work on 24-25 October.
Source: BIMCO
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Thursday, 14 July 22
INDIA'S COAL IMPORTS HIT RECORD HIGH IN JUNE - REUTERS
India's coal imports hit a record high in June despite high global prices, data from three trade sources and Refinitiv ship tracking showed, as ...
Thursday, 14 July 22
CHINA'S JUNE COAL IMPORTS SLUMP AS TRADERS SHUN EXPENSIVE OVERSEAS CARGOES - REUTERS
China’s coal imports fell 33% in June from a year ago, with traders turning down expensive overseas cargoes in favor of domestic ones with ca ...
Wednesday, 13 July 22
KOWEPO TO IMPORT 2.79 MILLION TONS OF LOW TO MEDIUM COAL
COALspot.com: Korea Western Power Co., Ltd. (KOWEPO) has issued an International tender for Total 1360k MT of Min.4400 kcal/kg NCV coal and Total 1 ...
Wednesday, 13 July 22
HAVE MINERS MISSED THE BOAT TO INVEST AND GET AHEAD OF THE ENERGY TRANSITION? - WOOD MACKENZIE
Miners are in rude health, benefiting from economic stimuli, the post-pandemic recovery and associated supply constraints. Initially the Ukraine wa ...
Wednesday, 13 July 22
MARKET INSIGHT - INTERMODAL
Taking the previous market insight a step further, market sentiment remains bullish regarding the overall ROI of scrubbers, facing tailwinds from a ...
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- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Karbindo Abesyapradhi - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- GN Power Mariveles Coal Plant, Philippines
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Central Electricity Authority - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Chamber of Mines of South Africa
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- MS Steel International - UAE
- Timah Investasi Mineral - Indoneisa
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- India Bulls Power Limited - India
- Sakthi Sugars Limited - India
- Central Java Power - Indonesia
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Siam City Cement PLC, Thailand
- Xindia Steels Limited - India
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- OPG Power Generation Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Energy Link Ltd, New Zealand
- Jaiprakash Power Ventures ltd
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- TeaM Sual Corporation - Philippines
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Georgia Ports Authority, United States
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- CNBM International Corporation - China
- Planning Commission, India
- PNOC Exploration Corporation - Philippines
- Baramulti Group, Indonesia
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Ministry of Finance - Indonesia
- Larsen & Toubro Limited - India
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Ambuja Cements Ltd - India
- Electricity Generating Authority of Thailand
- Globalindo Alam Lestari - Indonesia
- Vedanta Resources Plc - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- South Luzon Thermal Energy Corporation
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Coastal Gujarat Power Limited - India
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Holcim Trading Pte Ltd - Singapore
- Coalindo Energy - Indonesia
- Antam Resourcindo - Indonesia
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- Sindya Power Generating Company Private Ltd
- Aboitiz Power Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Kohat Cement Company Ltd. - Pakistan
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Chettinad Cement Corporation Ltd - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
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