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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, 22 March 24
INDONESIA APPROVES 922.14 MLN T COAL PRODUCTION QUOTA FOR 2024, ABOVE TARGET - REUTERS
Indonesia has approved coal production quotas totalling 922.14 million metric tons for 2024, Bambang Suswantono, a senior official at the mining mi ...
Friday, 22 March 24
CHINA COAL INDUSTRY GROUP EXPECTS OUTPUT GROWTH TO SLOW IN 2024 - REUTERS
China’s coal output is expected to increase 36 million metric tons, or 0.8%, to about 4.7 billion tonnes in 2024, a Chinese coal industry gro ...
Monday, 18 March 24
THREE KEY TAKEAWAYS FROM OUR EUROPE GAS MARKETS SHORT-TERM OUTLOOK Q1 2024 - WOOD MACKENZIE
European gas prices are currently back to pre-crisis levels, but with a complex series of factors affecting future supply and demand, are they set ...
Wednesday, 06 March 24
INDONESIA AIMS TO FINISH MINING OUTPUT QUOTAS APPROVAL BY END-MARCH, OFFICIAL SAYS - REUTERS
Indonesia’s has approved the mining production quotarequests from more than 120mineral companies and aims to complete the approval process th ...
Monday, 04 March 24
IS YOUR GUARANTEE A GUARANTEE? NOTE TO SHIPOWNERS - GARD
KNOWLEDGE TO ELEVATE
The law of guarantees is not always obvious or easy to understand without proper guidance. This article clarifies the dif ...
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Showing 26 to 30 news of total 6871 |
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- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- ICICI Bank Limited - India
- South Luzon Thermal Energy Corporation
- Coastal Gujarat Power Limited - India
- Eastern Coal Council - USA
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Ind-Barath Power Infra Limited - India
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Trasteel International SA, Italy
- Asmin Koalindo Tuhup - Indonesia
- MS Steel International - UAE
- GN Power Mariveles Coal Plant, Philippines
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- SN Aboitiz Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Georgia Ports Authority, United States
- Bukit Asam (Persero) Tbk - Indonesia
- Australian Commodity Traders Exchange
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Dalmia Cement Bharat India
- CIMB Investment Bank - Malaysia
- Petron Corporation, Philippines
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Pendopo Energi Batubara - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Orica Australia Pty. Ltd.
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Independent Power Producers Association of India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Borneo Indobara - Indonesia
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- PTC India Limited - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- Riau Bara Harum - Indonesia
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Sindya Power Generating Company Private Ltd
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Kohat Cement Company Ltd. - Pakistan
- PNOC Exploration Corporation - Philippines
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- Posco Energy - South Korea
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- Intertek Mineral Services - Indonesia
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Price Waterhouse Coopers - Russia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- VISA Power Limited - India
- Grasim Industreis Ltd - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- India Bulls Power Limited - India
- PowerSource Philippines DevCo
- Pipit Mutiara Jaya. PT, Indonesia
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- GVK Power & Infra Limited - India
- San Jose City I Power Corp, Philippines
- The University of Queensland
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- Altura Mining Limited, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- IEA Clean Coal Centre - UK
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Krishnapatnam Port Company Ltd. - India
- McConnell Dowell - Australia
- Thai Mozambique Logistica
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
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