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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, 14 July 23
CLEAN COAL USE KEY TO DEEP CUTS IN EMISSIONS, STABLE ELECTRICITY SUPPLY - CHINA DAILY
China must push for the clean use of coal and step up integration of the dirty fuel with carbon capture, utilization and storage to achieve sustain ...
Thursday, 13 July 23
VIETNAM'S COAL EMISSIONS PRIMED FOR SURGE AFTER IMPORTS JUMP - REUTERS
Vietnam’s thermal power emissions are primed for a steep climb this summer after the country’s imports of thermal coal soared to their ...
Monday, 26 June 23
COAL PRODUCTION AND CONSUMPTION UP IN 2022 - EUROSTAT
In 2022, EU coal production and consumption continued to increase, reaching 349 million tonnes (+5% compared with the previous year) and 454 millio ...
Wednesday, 21 June 23
QATAR STRIKES SECOND BIG LNG SUPPLY DEAL WITH CHINA - REUTERS
Qatar on Tuesday secured its second large gas supply deal with a Chinese state-controlled company in less than a year, putting Asia clearly ahead i ...
Wednesday, 21 June 23
CHINA'S MAY COAL IMPORTS FROM AUSTRALIA RECOVER TO PRE-BAN LEVELS - REUTERS
Australian coal sales to China increased in May, as trade resumed between them even as overall coal demand weakened against an uncertain macroecono ...
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Showing 91 to 95 news of total 6871 |
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- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- SMG Consultants - Indonesia
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Baramulti Group, Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- AsiaOL BioFuels Corp., Philippines
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Asmin Koalindo Tuhup - Indonesia
- CIMB Investment Bank - Malaysia
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Barasentosa Lestari - Indonesia
- Siam City Cement - Thailand
- Meenaskhi Energy Private Limited - India
- Electricity Authority, New Zealand
- Mercator Lines Limited - India
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Parliament of New Zealand
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Vizag Seaport Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Electricity Generating Authority of Thailand
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- ICICI Bank Limited - India
- Oldendorff Carriers - Singapore
- Power Finance Corporation Ltd., India
- Planning Commission, India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Semirara Mining and Power Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- SN Aboitiz Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Edison Trading Spa - Italy
- India Bulls Power Limited - India
- Orica Australia Pty. Ltd.
- The Treasury - Australian Government
- GN Power Mariveles Coal Plant, Philippines
- Renaissance Capital - South Africa
- Independent Power Producers Association of India
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- PTC India Limited - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Star Paper Mills Limited - India
- London Commodity Brokers - England
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Binh Thuan Hamico - Vietnam
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sojitz Corporation - Japan
- Deloitte Consulting - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Aditya Birla Group - India
- Global Coal Blending Company Limited - Australia
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Dalmia Cement Bharat India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Link Ltd, New Zealand
- Central Java Power - Indonesia
- Anglo American - United Kingdom
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Madhucon Powers Ltd - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- Bhatia International Limited - India
- Sical Logistics Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Eastern Energy - Thailand
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