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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
Tuesday, 13 February 24
WHAT IS THE OUTLOOK FOR THE NATURAL GAS SPOT PRICE IN 2024 AND 2025? EIA
We expect the U.S. benchmark Henry Hub natural gas spot price to average higher in 2024 and 2025 than in 2023, but to remain lower than $3.00 per m ...
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Showing 31 to 35 news of total 6871 |
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- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Sakthi Sugars Limited - India
- Timah Investasi Mineral - Indoneisa
- Pipit Mutiara Jaya. PT, Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Siam City Cement - Thailand
- Sarangani Energy Corporation, Philippines
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- South Luzon Thermal Energy Corporation
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- Merrill Lynch Commodities Europe
- Neyveli Lignite Corporation Ltd, - India
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Chettinad Cement Corporation Ltd - India
- OPG Power Generation Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Maharashtra Electricity Regulatory Commission - India
- Parliament of New Zealand
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Planning Commission, India
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Pendopo Energi Batubara - Indonesia
- Bayan Resources Tbk. - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- CIMB Investment Bank - Malaysia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rashtriya Ispat Nigam Limited - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Straits Asia Resources Limited - Singapore
- Coastal Gujarat Power Limited - India
- SMG Consultants - Indonesia
- Samtan Co., Ltd - South Korea
- Gujarat Electricity Regulatory Commission - India
- Intertek Mineral Services - Indonesia
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Simpson Spence & Young - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Economic Council, Georgia
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Bhushan Steel Limited - India
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Georgia Ports Authority, United States
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Malabar Cements Ltd - India
- Medco Energi Mining Internasional
- Globalindo Alam Lestari - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Larsen & Toubro Limited - India
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Sojitz Corporation - Japan
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Lanco Infratech Ltd - India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Coal and Oil Company - UAE
- Kapuas Tunggal Persada - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- White Energy Company Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Kepco SPC Power Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Parry Sugars Refinery, India
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Anglo American - United Kingdom
- Maheswari Brothers Coal Limited - India
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Minerals Council of Australia
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Indogreen Group - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Thai Mozambique Logistica
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- MS Steel International - UAE
- Mintek Dendrill Indonesia
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Goldman Sachs - Singapore
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Generating Authority of Thailand
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- Deloitte Consulting - India
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
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