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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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Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
Saturday, 25 March 23
COAL INDIA HAS STRONG CASE TO INCREASE PRICES, TALKS ON: CMD AGRAWAL - BUSINESS STANDARD
Coal India (CIL) Chairman and Managing Director Pramod Agrawal said on Monday there is a “strong case” for increasing coal prices, and ...
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Showing 111 to 115 news of total 6871 |
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- Madhucon Powers Ltd - India
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Cigading International Bulk Terminal - Indonesia
- Oldendorff Carriers - Singapore
- PTC India Limited - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Antam Resourcindo - Indonesia
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bhatia International Limited - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Rio Tinto Coal - Australia
- Global Green Power PLC Corporation, Philippines
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- India Bulls Power Limited - India
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- SMG Consultants - Indonesia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- Gujarat Sidhee Cement - India
- GN Power Mariveles Coal Plant, Philippines
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Eastern Coal Council - USA
- Ministry of Mines - Canada
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Iligan Light & Power Inc, Philippines
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Semirara Mining Corp, Philippines
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Xindia Steels Limited - India
- Orica Australia Pty. Ltd.
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- CNBM International Corporation - China
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Ceylon Electricity Board - Sri Lanka
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Kumho Petrochemical, South Korea
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Wilmar Investment Holdings
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- GMR Energy Limited - India
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Central Electricity Authority - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Ambuja Cements Ltd - India
- Energy Link Ltd, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- TeaM Sual Corporation - Philippines
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- GVK Power & Infra Limited - India
- Larsen & Toubro Limited - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- IHS Mccloskey Coal Group - USA
- Kobexindo Tractors - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Petron Corporation, Philippines
- Port Waratah Coal Services - Australia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Interocean Group of Companies - India
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