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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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Monday, 12 February 24
US THERMAL COAL EXPORTS HIT 5-YEAR HIGHS AND TOP $5 BLN IN 2023 - REUTERS
United States exporters of thermal coal earned more than $5 billion in 2023 as they shipped out more than 32.5 million metric tons of the high-poll ...
Tuesday, 06 February 24
NEW E-FUELS PROJECT TO MAKE INTERNATIONAL SHIPPING CLIMATE-NEUTRAL - RINA
Transport and trade on the ocean blue must be made much greener. This is the goal of the new €17 million European GAMMA project, where compani ...
Tuesday, 06 February 24
INDIA SEES ANNUAL COAL OUTPUT UP 10.9% IN 2024/25 - REUTERS
India expects domestic coal output to increase by 10.9% to 1.13 billion metric tons in the fiscal year ending March 2025, a senior government offic ...
Tuesday, 06 February 24
INDIA'S COAL PRODUCTION INCREASES BY 10.3% TO 99.73 MILLION TONNE IN JANUARY - PTI
The country’s coal output rose 10.3 per cent to 99.73 Million Tonne (MT) in January, over the same month in the previous fiscal.
...
Friday, 02 February 24
DRY BULK MARKET: THE DOWNWARD REVISION IN THE GROWTH OF CAPESIZE TONNE DAYS IN JANUARY WITH THE BCI DROPPING - MARIA BERTZELETOU
In the last week of January, the dry freight market sustained weakness in the Capesize segment, while the number of ballasters in the Southeast (SE ...
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Showing 36 to 40 news of total 6871 |
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- Cigading International Bulk Terminal - Indonesia
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Minerals Council of Australia
- Central Java Power - Indonesia
- CNBM International Corporation - China
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- European Bulk Services B.V. - Netherlands
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- The Treasury - Australian Government
- Georgia Ports Authority, United States
- Latin American Coal - Colombia
- Videocon Industries ltd - India
- LBH Netherlands Bv - Netherlands
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Chamber of Mines of South Africa
- Ambuja Cements Ltd - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Manunggal Multi Energi - Indonesia
- Banpu Public Company Limited - Thailand
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Thai Mozambique Logistica
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Heidelberg Cement - Germany
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Deloitte Consulting - India
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Semirara Mining Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Larsen & Toubro Limited - India
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Merrill Lynch Commodities Europe
- Bukit Asam (Persero) Tbk - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Parliament of New Zealand
- SMC Global Power, Philippines
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Ind-Barath Power Infra Limited - India
- Timah Investasi Mineral - Indoneisa
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Attock Cement Pakistan Limited
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Agrawal Coal Company - India
- VISA Power Limited - India
- Formosa Plastics Group - Taiwan
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Bhoruka Overseas - Indonesia
- Coastal Gujarat Power Limited - India
- Thiess Contractors Indonesia
- Aboitiz Power Corporation - Philippines
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Jindal Steel & Power Ltd - India
- Petron Corporation, Philippines
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- International Coal Ventures Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
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