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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, 02 February 24
COAL INDIA ACHIEVES NEARLY 80% OF ITS FY24 PRODUCTION TARGET IN TEN MONTHS - CNBCTV18
For the month of January, the company’s production grew by 9.1% from the same period last year to 78.4 Million Tonnes (MT), from 71.9 MT last ...
Thursday, 01 February 24
CHINA'S WIND, SOLAR CAPACITY TO OVERTAKE COAL IN 2024 - INDUSTRY BODY, REUTERS REPORTED
China’s installed wind and solar capacity is expected to overtake coal for the first time this year, according to industry forecasts.
&nb ...
Thursday, 01 February 24
ANTI-DEDUCTION CLAUSES: CAN A CHARTERER WITHHOLD HIRE WITHOUT AN OWNER'S CONSENT? - SKULD
KNOWLEDGE TO ELEVATE
Summary
In The Anna Dorothea, the Court found that where a charterparty provides that no deduction from hire may be m ...
Thursday, 01 February 24
INDIA REBUILDS COAL STOCKS TO ENSURE ELECTRIC RELIABILITY - REUTERS
India’s electricity supply is much more comfortable at the start of 2024 than in either 2023 or 2022 as coal production has ramped up and the ...
Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
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Showing 41 to 45 news of total 6871 |
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- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- The Treasury - Australian Government
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Mercator Lines Limited - India
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Africa Commodities Group - South Africa
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Dalmia Cement Bharat India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- CNBM International Corporation - China
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- Indo Tambangraya Megah - Indonesia
- Latin American Coal - Colombia
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Baramulti Group, Indonesia
- Cement Manufacturers Association - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indika Energy - Indonesia
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Carbofer General Trading SA - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- The University of Queensland
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- SMG Consultants - Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- PowerSource Philippines DevCo
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- India Bulls Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Commonwealth Bank - Australia
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Chettinad Cement Corporation Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Australian Commodity Traders Exchange
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Pendopo Energi Batubara - Indonesia
- GVK Power & Infra Limited - India
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Economic Council, Georgia
- Gujarat Mineral Development Corp Ltd - India
- Formosa Plastics Group - Taiwan
- MS Steel International - UAE
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Kideco Jaya Agung - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Marubeni Corporation - India
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Kaltim Prima Coal - Indonesia
- Mercuria Energy - Indonesia
- Edison Trading Spa - Italy
- Bukit Makmur.PT - Indonesia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Riau Bara Harum - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- ASAPP Information Group - India
- PTC India Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Deloitte Consulting - India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Rio Tinto Coal - Australia
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
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