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Wednesday, 26 October 22
BIMCO PUBLISHES UPDATED GENCON CONTRACT
 BIMCO has published a revised and updated version GENCON 2022 – one of its flagship contracts within its portfolio of standard contracts for the maritime industry. The revisions reflect significant changes in the regulatory landscape since the contract was last updated.
In response to changes within the areas of regulation and safety, BIMCO has updated GENCON 1994 to reflect the commercial and legal requirements in today’s shipping practices. The voyage charter party, used in dry bulk trade, was last updated in 1994 and the new version addresses all terms and conditions that the commercial parties need to incorporate by means of rider clauses. This will help companies that may not have an internal legal department to turn to for assistance.
The drafting group engaged in the development of GENCON 2022 consisted of representatives from both the chartering and shipowning sector to assure the new version strikes the right balance with regards to the rights and obligations of both parties.
“When we sit down and start the process of drafting standard contracts and clauses for the maritime industry, our focus is on striking the right balance between the parties involved. This is regardless of which contract or clause is on the drawing table. The drafting of GENCON 2022 reflects this,” says Søren Larsen, BIMCO Deputy Secretary General.
Focus has also been on the importance of producing a clearly worded contract that leaves little room for disputes on matters of interpretation.
“I have been active in dry bulk shipping all my working life and have seen how important it can be to get the wording just right,” says John Weale, Chairman of the drafting sub-committee. “There is no perfect charter party, but I do believe that GENCON 2022 will go a long way towards meeting the needs of today’s industry and avoiding disputes.”
The 2022 update will mark 100 years since GENCON was first launched by BIMCO, as the first edition was published in 1922.
Source: BIMCO
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Tuesday, 17 January 23
CHINA'S SHANXI TARGETS 2023 COAL PRODUCTION OF NEARLY 1.37B TONS - XINHUA
China’s coal-rich province of Shanxi has set a coal production target of nearly 1.37 billion metric tons for 2023, according to a government ...
Tuesday, 17 January 23
MARKET INSIGHT - INTERMODAL
Rumor has it that the New Year has come, to set the pace in, for Russia to continue hostilities against Ukraine. Ten months on the go, into Russia& ...
Tuesday, 17 January 23
INDONESIA IS ACCOUNTING FOR 32.3% OF THE GLOBAL SEABORNE COAL MARKET IN 2022 - BENCHERO COSTA
After a slow start in the first quarter, global coal trade has really picked up pace last year, and is now fully back to pre-Covid levels, Benchero ...
Tuesday, 10 January 23
INDONESIAN HBA IS SEEING A SPIKE IN JANUARY 2023 INSTEAD OF A SIGNIFICANT FALL IN DECEMBER 2022
COALspot.com: Indonesian Coal Price Reference up 8.43% in January 2023.
HBA is seeing a dramatic spike in January 2023 i ...
Sunday, 08 January 23
INDIAN COAL POWER PLANTS SHOULD BE COMPENSATED FOR 2022 FORCED GENERATION – REGULATOR : REUTERS
Indian power plants that rely on imported coal should be fully compensated when forced to supply electricity, the country’s power regulator s ...
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- Jindal Steel & Power Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Bhoruka Overseas - Indonesia
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- Global Business Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Merrill Lynch Commodities Europe
- Electricity Authority, New Zealand
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Ind-Barath Power Infra Limited - India
- Karaikal Port Pvt Ltd - India
- Sojitz Corporation - Japan
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- AsiaOL BioFuels Corp., Philippines
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- IEA Clean Coal Centre - UK
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Indo Tambangraya Megah - Indonesia
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Metalloyd Limited - United Kingdom
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Ceylon Electricity Board - Sri Lanka
- Binh Thuan Hamico - Vietnam
- CIMB Investment Bank - Malaysia
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Mercator Lines Limited - India
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Ambuja Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- Minerals Council of Australia
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Mjunction Services Limited - India
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Parliament of New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- Romanian Commodities Exchange
- Power Finance Corporation Ltd., India
- Maheswari Brothers Coal Limited - India
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Chamber of Mines of South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Africa Commodities Group - South Africa
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Riau Bara Harum - Indonesia
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Australian Coal Association
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Essar Steel Hazira Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Ministry of Transport, Egypt
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Therma Luzon, Inc, Philippines
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- International Coal Ventures Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Economic Council, Georgia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Renaissance Capital - South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- PetroVietnam Power Coal Import and Supply Company
- Central Electricity Authority - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Meralco Power Generation, Philippines
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bharathi Cement Corporation - India
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Indika Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Chettinad Cement Corporation Ltd - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Central Java Power - Indonesia
- Kideco Jaya Agung - Indonesia
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Singapore Mercantile Exchange
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