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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 August 24
COAL MARKET DEVELOPMENTS: FALLING PRICES AMID RECORD-HIGH OUTPUT - WORLD BANK
Coal prices inched up in May (m/m) following an 8 percent decline in 2024Q1. The Australian and South African benchmarks have plummeted more ...
Friday, 26 July 24
FUELEU MARITME IS COMING. IS YOUR CHARTERPARTY READY? - GARD
With less than six months to implementation of FuelEU Maritime in EU and EEA trades, there has been little published advice regarding how to alloca ...
Thursday, 04 July 24
INDIA'S COAL PRODUCTION RISES 14% IN JUNE - PTI
The country’s coal production rose by 14.49% to 84.63 million tonne (MT) in June. The country’s coal output was 73.92 MT in June last f ...
Tuesday, 02 July 24
NTPC CAPTIVE COAL OUTPUT GROWS 15% IN Q1; DESPATCH RISES 17%
State-owned NTPC on Monday reported a 15 per cent year-on-year increase in the production of coal from captives mines to 9.862 metric million tonne ...
Friday, 28 June 24
KOSPO INVITED BIDS FOR 400,000 MT OF MINIMUM 4000 NCV COAL FOR FIVE YEARS
Korea Southern Power Co., Ltd. (KOSPO), is inviting bids for total 400,000 MT of Low Calorific Value Coal for 5 years starting from July 2024 until ...
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Showing 6 to 10 news of total 6871 |
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- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Borneo Indobara - Indonesia
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Videocon Industries ltd - India
- Meralco Power Generation, Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement PLC, Thailand
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Ambuja Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Central Electricity Authority - India
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Directorate Of Revenue Intelligence - India
- Rashtriya Ispat Nigam Limited - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Bukit Baiduri Energy - Indonesia
- IEA Clean Coal Centre - UK
- GN Power Mariveles Coal Plant, Philippines
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Kideco Jaya Agung - Indonesia
- Antam Resourcindo - Indonesia
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Toyota Tsusho Corporation, Japan
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Bayan Resources Tbk. - Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Ind-Barath Power Infra Limited - India
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Standard Chartered Bank - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Metalloyd Limited - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- The Treasury - Australian Government
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- LBH Netherlands Bv - Netherlands
- Sarangani Energy Corporation, Philippines
- The University of Queensland
- Bhushan Steel Limited - India
- Ministry of Mines - Canada
- Pipit Mutiara Jaya. PT, Indonesia
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Global Coal Blending Company Limited - Australia
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Lanco Infratech Ltd - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Iligan Light & Power Inc, Philippines
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Star Paper Mills Limited - India
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- Indian Oil Corporation Limited
- Australian Coal Association
- ASAPP Information Group - India
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Planning Commission, India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Oldendorff Carriers - Singapore
- Singapore Mercantile Exchange
- Indonesian Coal Mining Association
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
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