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