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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, 17 February 22
APAC THERMAL COAL PRICES TO EASE ON END OF INDONESIA EXPORT BAN - FITCH RATINGS
Fitch Ratings-Shanghai/Singapore-14 February 2022: APAC thermal coal prices are likely to come under pressure in the near term due to seasonally we ...
Tuesday, 15 February 22
IS ANOTHER COAL SHORTAGE CRISIS LOOMING OVER INDIA? - BUSINESS STANDARD
In December last year, the Federation of Indian Mineral Industries (FIMI) shot off a letter to the Prime Minister claiming that the coal crisis was ...
Tuesday, 15 February 22
THERMAL COAL'S RECORD PRICE RUN MAY END UP ITS OWN WORST ENEMY - REUTERS
The price of benchmark Australian thermal coal rose last week to trade near record highs, providing a short-term boost to producers but increasing ...
Thursday, 10 February 22
INDONESIA: COAL EXPORT BAN - SKULD
Indonesia's coal export ban in the light of force majeure and off-hire clauses
In January 2022, Indonesia, the world's biggest exporte ...
Thursday, 10 February 22
EIA ANALYSIS CONSIDERS DIFFERENT OUTCOMES FOR COAL MARKETS IN INDIA AND SOUTHEAST ASIA
In our International Energy Outlook 2021 (IEO2021) Issues in Focus: Uncertainty in Coal Trade in India and Greater Southeast Asia, we analyze three ...
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- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- VISA Power Limited - India
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Coal and Oil Company - UAE
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sical Logistics Limited - India
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- CNBM International Corporation - China
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Agrawal Coal Company - India
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Lanco Infratech Ltd - India
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Kepco SPC Power Corporation, Philippines
- SMC Global Power, Philippines
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Latin American Coal - Colombia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- IHS Mccloskey Coal Group - USA
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Xindia Steels Limited - India
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bangladesh Power Developement Board
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Independent Power Producers Association of India
- Global Business Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- Orica Mining Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Indian Energy Exchange, India
- Aditya Birla Group - India
- ASAPP Information Group - India
- White Energy Company Limited
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Mercator Lines Limited - India
- International Coal Ventures Pvt Ltd - India
- Marubeni Corporation - India
- Baramulti Group, Indonesia
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Grasim Industreis Ltd - India
- Medco Energi Mining Internasional
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Australian Coal Association
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Anglo American - United Kingdom
- Sindya Power Generating Company Private Ltd
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