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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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Monday, 24 June 24
PHILIPPINES COAL SUPPLY ENOUGH UNTIL 2030 - PHILSTAR GLOBAL
The country’s existing coal-fired power plants are sufficient to ensure enough base load capacity in the next six years, Energy Secretary Rap ...
Friday, 14 June 24
NEXTDECADE, SAUDI ARAMCO SIGN 20-YEAR LNG SUPPLY DEAL - REUTERS
U.S. liquefied natural gas (LNG) provider NextDecade has signed a non-binding agreement with Saudi Aramco 2222.SE to supply 1.2 million tonnes per ...
Friday, 14 June 24
NEWBUILDING PRICES CLIMB 3% TO HIGHEST LEVEL IN 16 YEARS - NIELS RASMUSSEN
“Since the start of the year, newbuilding prices have risen 3% to their highest level since 2008. Compared to their most recent low in late 2 ...
Friday, 14 June 24
INDIA TARGETS HIGHER DOMESTIC COAL PRODUCTION, REDUCED IMPORTS: GOVT - REUTERS
India wants to reduce coal imports and increase domestic production, federal coal minister G. Kishan Reddy said on Thursday.
The cou ...
Thursday, 13 June 24
US LNG TO ASIA FOR POWER GENERATION EXPECTED TO CUT EMISSIONS VERSUS COAL - RYSTAD ENERGY
The value-chain emissions of liquified natural gas (LNG) are lower on average than for coal-fired power generation, even when the fuel is shipp ...
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Showing 16 to 20 news of total 6871 |
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- PTC India Limited - India
- Bangladesh Power Developement Board
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Malabar Cements Ltd - India
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Sical Logistics Limited - India
- Karaikal Port Pvt Ltd - India
- Africa Commodities Group - South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Oil Corporation Limited
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Meralco Power Generation, Philippines
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Renaissance Capital - South Africa
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- European Bulk Services B.V. - Netherlands
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Tamil Nadu electricity Board
- Parliament of New Zealand
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- McConnell Dowell - Australia
- Bhushan Steel Limited - India
- Planning Commission, India
- Kalimantan Lumbung Energi - Indonesia
- Metalloyd Limited - United Kingdom
- Globalindo Alam Lestari - Indonesia
- Eastern Coal Council - USA
- Attock Cement Pakistan Limited
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- Tata Chemicals Ltd - India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Straits Asia Resources Limited - Singapore
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Economic Council, Georgia
- Georgia Ports Authority, United States
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Neyveli Lignite Corporation Ltd, - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Mjunction Services Limited - India
- Port Waratah Coal Services - Australia
- TeaM Sual Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Kideco Jaya Agung - Indonesia
- London Commodity Brokers - England
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Billiton Holdings Pty Ltd - Australia
- Coal and Oil Company - UAE
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- India Bulls Power Limited - India
- Goldman Sachs - Singapore
- Indonesian Coal Mining Association
- Leighton Contractors Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Larsen & Toubro Limited - India
- Kaltim Prima Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bayan Resources Tbk. - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- San Jose City I Power Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Merrill Lynch Commodities Europe
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Thiess Contractors Indonesia
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Indo Tambangraya Megah - Indonesia
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Toyota Tsusho Corporation, Japan
- Trasteel International SA, Italy
- Central Java Power - Indonesia
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Meenaskhi Energy Private Limited - India
- Cement Manufacturers Association - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Ministry of Finance - Indonesia
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Salva Resources Pvt Ltd - India
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Lanco Infratech Ltd - India
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
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