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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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Friday, 02 December 22
INDONESIAN COAL PRICE REFERENCE PLUNGE TOWARD US$ 281.48 A TON AS DEMAND DROPS WORLDWIDE
COALspot.com: The cost of coal is falling so fast that it is beginning to put real money back in the pockets of end-users.
Indonesia ...
Wednesday, 30 November 22
INDONESIA’S BUMI RESOURCES TARGETS 2023 COAL OUTPUT OF 80 MLN TONNES - REUTERS
Indonesian coal miner PT Bumi Resources Tbk BUMI.JKis eyeing a 10% increase in output to 80 million tonnes next year amid expectations for more fav ...
Wednesday, 30 November 22
TANKERS: LONGER HAULS TO SUPPORT CONTINUED STRENGTH - BIMCO
Highlights
A rebound in the dirty tanker trade has led the Baltic Exchange Dirty Index (BDTI) to increase by 64% since our last report from mid ...
Wednesday, 30 November 22
MARKET INSIGHT - INTERMODAL
Shipping, although a conservative and innovation adverse industry, is currently in a transition period of digital transformation. According to a su ...
Tuesday, 29 November 22
INDIA TO RECEIVE FIRST LNG CARGO FROM INDONESIA’S TANGGUH LNG - REUTERS
India will receive its first cargo from Indonesia’s Tangguh liquefied natural gas (LNG) plant at the Dahej terminal on Monday, according to a ...
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- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Maharashtra Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Renaissance Capital - South Africa
- Makarim & Taira - Indonesia
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- Sree Jayajothi Cements Limited - India
- Singapore Mercantile Exchange
- Kapuas Tunggal Persada - Indonesia
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Videocon Industries ltd - India
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Madhucon Powers Ltd - India
- Edison Trading Spa - Italy
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Minerals Council of Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- Therma Luzon, Inc, Philippines
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
- Romanian Commodities Exchange
- Cigading International Bulk Terminal - Indonesia
- PowerSource Philippines DevCo
- The Treasury - Australian Government
- CNBM International Corporation - China
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- Kumho Petrochemical, South Korea
- IEA Clean Coal Centre - UK
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Agrawal Coal Company - India
- Deloitte Consulting - India
- Ministry of Finance - Indonesia
- The University of Queensland
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Electricity Generating Authority of Thailand
- Rashtriya Ispat Nigam Limited - India
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- Posco Energy - South Korea
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Africa Commodities Group - South Africa
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Parry Sugars Refinery, India
- Malabar Cements Ltd - India
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Oldendorff Carriers - Singapore
- Chamber of Mines of South Africa
- Kideco Jaya Agung - Indonesia
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Sojitz Corporation - Japan
- AsiaOL BioFuels Corp., Philippines
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- London Commodity Brokers - England
- Port Waratah Coal Services - Australia
- Carbofer General Trading SA - India
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Australian Commodity Traders Exchange
- Global Coal Blending Company Limited - Australia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- LBH Netherlands Bv - Netherlands
- Savvy Resources Ltd - HongKong
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Tata Chemicals Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Marubeni Corporation - India
- Central Electricity Authority - India
- Altura Mining Limited, Indonesia
- Aboitiz Power Corporation - Philippines
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- GAC Shipping (India) Pvt Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Directorate Of Revenue Intelligence - India
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GMR Energy Limited - India
- Aditya Birla Group - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Interocean Group of Companies - India
- VISA Power Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- SMC Global Power, Philippines
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