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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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- Holcim Trading Pte Ltd - Singapore
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- MS Steel International - UAE
- PTC India Limited - India
- Globalindo Alam Lestari - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Jindal Steel & Power Ltd - India
- CIMB Investment Bank - Malaysia
- Kideco Jaya Agung - Indonesia
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Lanco Infratech Ltd - India
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Altura Mining Limited, Indonesia
- IEA Clean Coal Centre - UK
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Marubeni Corporation - India
- Sree Jayajothi Cements Limited - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Posco Energy - South Korea
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Coalindo Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Medco Energi Mining Internasional
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Ind-Barath Power Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Borneo Indobara - Indonesia
- OPG Power Generation Pvt Ltd - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Savvy Resources Ltd - HongKong
- Australian Coal Association
- Latin American Coal - Colombia
- The University of Queensland
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Formosa Plastics Group - Taiwan
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Coastal Gujarat Power Limited - India
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- International Coal Ventures Pvt Ltd - India
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Electricity Generating Authority of Thailand
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- Miang Besar Coal Terminal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Jorong Barutama Greston.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- PowerSource Philippines DevCo
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- European Bulk Services B.V. - Netherlands
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Independent Power Producers Association of India
- ASAPP Information Group - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- White Energy Company Limited
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- Mintek Dendrill Indonesia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Indika Energy - Indonesia
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
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