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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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- Kobexindo Tractors - Indoneisa
- The University of Queensland
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- CIMB Investment Bank - Malaysia
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
- Sarangani Energy Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Kapuas Tunggal Persada - Indonesia
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- VISA Power Limited - India
- Romanian Commodities Exchange
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Larsen & Toubro Limited - India
- GN Power Mariveles Coal Plant, Philippines
- San Jose City I Power Corp, Philippines
- Xindia Steels Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- International Coal Ventures Pvt Ltd - India
- Dalmia Cement Bharat India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Indonesian Coal Mining Association
- Sinarmas Energy and Mining - Indonesia
- Meenaskhi Energy Private Limited - India
- Uttam Galva Steels Limited - India
- New Zealand Coal & Carbon
- Australian Coal Association
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Sojitz Corporation - Japan
- Global Business Power Corporation, Philippines
- Star Paper Mills Limited - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Madhucon Powers Ltd - India
- Power Finance Corporation Ltd., India
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Jorong Barutama Greston.PT - Indonesia
- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Ministry of Mines - Canada
- The Treasury - Australian Government
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Standard Chartered Bank - UAE
- McConnell Dowell - Australia
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- SN Aboitiz Power Inc, Philippines
- Altura Mining Limited, Indonesia
- Heidelberg Cement - Germany
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- PTC India Limited - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- PNOC Exploration Corporation - Philippines
- Oldendorff Carriers - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Salva Resources Pvt Ltd - India
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- Sical Logistics Limited - India
- Trasteel International SA, Italy
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- The State Trading Corporation of India Ltd
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- South Luzon Thermal Energy Corporation
- Kalimantan Lumbung Energi - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Binh Thuan Hamico - Vietnam
- White Energy Company Limited
- Toyota Tsusho Corporation, Japan
- Videocon Industries ltd - India
- Central Electricity Authority - India
- PowerSource Philippines DevCo
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
- Carbofer General Trading SA - India
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
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