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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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Wednesday, 12 June 24
CHINA ACCOUNTS FOR 16.3% OF AUSTRALIA'S COAL EXPORTS, FOLLOWED BY INDIA 14.4% - BANCHERO COSTA
Global coal trade has really picked up pace in recent months, and is now fully back to pre-Covid levels says Banchero Costa in its latest report.
...
Wednesday, 12 June 24
LNG NEWBUILDING VALUES AT RECORD HIGH: 78 NEWBUILD ORDERS PLACED IN 2024, DOUBLING 2023 - VESON NAUTICAL
The number of LNG newbuilding orders have more than doubled from the same period last year where 34 orders were placed, compared to 78 in the first ...
Monday, 10 June 24
CHINA'S MAY COAL IMPORTS RISE 11% ON LOWER DOMESTIC OUTPUT - REUTERS
China’s imports of coal rose 11% in May from a year earlier, customs data and Reuters records showed on Friday, as lower domestic output this ...
Tuesday, 04 June 24
HOW DO WESTERN SANCTIONS ON RUSSIA IMPACT THE GLOBAL METALS, MINING AND COAL MARKETS - WOOD MACKENZIE
The geopolitical landscape for Russia, as a major supplier of various commodities, has undergone a dramatic transformation since the invasion of Uk ...
Friday, 22 March 24
CASE STUDY: DANGERS OF COAL CARGO - SKULD
Recently, a bulk cargo vessel carrying coal from South Africa to Singapore suffered a fatal accident, resulting in the deaths of three crew members ...
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Showing 21 to 25 news of total 6871 |
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- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- Kapuas Tunggal Persada - Indonesia
- Altura Mining Limited, Indonesia
- Vedanta Resources Plc - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Tata Chemicals Ltd - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Ministry of Mines - Canada
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- MS Steel International - UAE
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Posco Energy - South Korea
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Formosa Plastics Group - Taiwan
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Deloitte Consulting - India
- The Treasury - Australian Government
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Chettinad Cement Corporation Ltd - India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- CNBM International Corporation - China
- TNB Fuel Sdn Bhd - Malaysia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- ASAPP Information Group - India
- GVK Power & Infra Limited - India
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Pendopo Energi Batubara - Indonesia
- Attock Cement Pakistan Limited
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- PTC India Limited - India
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Chamber of Mines of South Africa
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Coal and Oil Company - UAE
- South Luzon Thermal Energy Corporation
- Jaiprakash Power Ventures ltd
- San Jose City I Power Corp, Philippines
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Alfred C Toepfer International GmbH - Germany
- Oldendorff Carriers - Singapore
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Sojitz Corporation - Japan
- Xindia Steels Limited - India
- Global Business Power Corporation, Philippines
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Siam City Cement PLC, Thailand
- Mjunction Services Limited - India
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Singapore Mercantile Exchange
- Salva Resources Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Indogreen Group - Indonesia
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Minerals Council of Australia
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Bukit Baiduri Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Ministry of Finance - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Semirara Mining Corp, Philippines
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Bhushan Steel Limited - India
- Directorate Of Revenue Intelligence - India
- Australian Coal Association
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Jindal Steel & Power Ltd - India
- Ind-Barath Power Infra Limited - India
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- SMC Global Power, Philippines
- Metalloyd Limited - United Kingdom
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
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