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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, 28 June 24
INDIAN POWER STATIONS STOCKED WITH BUMPER COAL SUPPLY AS TRANSPORT WOES EASE - BUSINESS STANDARD
Even as power demand has touched a historic high of 250 gigawatts (Gw) amid sweltering heat this June, India’s power stations are stocked wit ...
Friday, 28 June 24
INDIA'S CY23 COAL USE LARGER THAN NORTH AMERICA, EUROPE COMBINED - THE HINDU
For the first time, India’s coal consumption surpassed that of North America and Europe combined in the calendar year 2023, said Energy Insti ...
Monday, 24 June 24
PLN'S FINANCIAL SUSTAINABILITY RESTS ON ACCELERATED COAL RETIREMENT AND RENEWABLES DEPLOYMENT - MUTYA YUSTIKA
On 28 May 2024, Indonesia’s national electricity utility, PT Perusahaan Listrik Negara (PLN), released its financial report for 2023. Althoug ...
Monday, 24 June 24
INDIA'S COAL-BASED POWER DEMAND AT ALL-TIME HIGH, GOVERNMENT SAYS - REUTERS
India’s demand for coal-based power has risen by 7.3% this fiscal year to an all-time high, the government said in a statement on Wednesday.
...
Monday, 24 June 24
CHINA'S COAL INDUSTRY TURNS GREENER THROUGH INNOVATIVE APPROACHES - PEOPLE'S DAILY
At an opencast mine operated by Inner Mongolia Pingzhuang Coal Group Co. Ltd., a subsidiary of CHN Energy Investment Group (CHN Energy), a 14-meter ...
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Showing 11 to 15 news of total 6871 |
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- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Samtan Co., Ltd - South Korea
- Ministry of Mines - Canada
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Goldman Sachs - Singapore
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- Bhatia International Limited - India
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- Siam City Cement - Thailand
- Jaiprakash Power Ventures ltd
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Baramulti Group, Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Wilmar Investment Holdings
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- International Coal Ventures Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Essar Steel Hazira Ltd - India
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- The University of Queensland
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- Latin American Coal - Colombia
- PowerSource Philippines DevCo
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- White Energy Company Limited
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Coastal Gujarat Power Limited - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Ministry of Finance - Indonesia
- Semirara Mining Corp, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Australian Coal Association
- Simpson Spence & Young - Indonesia
- Bharathi Cement Corporation - India
- GAC Shipping (India) Pvt Ltd
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- Gujarat Sidhee Cement - India
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Electricity Authority, New Zealand
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Independent Power Producers Association of India
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Antam Resourcindo - Indonesia
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mjunction Services Limited - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Economic Council, Georgia
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- PNOC Exploration Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Electricity Generating Authority of Thailand
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Cement Manufacturers Association - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Kalimantan Lumbung Energi - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
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