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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, 04 November 22
CHINA EXPANDS COAL TERM CONTRACTS TO ALL MINES TO STABILIZE MARKET - REUTERS
China has expanded long-term thermal coal supply contracts for 2023 to all coal mines and asked power utilities to source more of their demand thro ...
Thursday, 03 November 22
HANDYSIZE VALUES MOVING UP IN OCTOBER, WHILE LNG VALUES SKYROCKET - VESSELSVALUE
Handysize values have increased this month across most ages, following a period of decline. Values for generic 10 year old Handysizes have moved up ...
Thursday, 03 November 22
EUROPEAN GAS SUPPLY SURPLUS, NOVEMBER HBA DOWN TO US$ 308.2 PER TON - ESDM
European gas supply conditions have a major influence in determining fluctuations in the Reference Coal Price (HBA). The November 2022 HBA recorded ...
Wednesday, 02 November 22
MARKET INSIGHT - INTERMODAL
Only five weeks before western sanctions’ full effect, uncertainty over energy has markets and governments on the edge. What was initially th ...
Tuesday, 01 November 22
CHINA COAL TRADE DISRUPTED BY COVID OUTBREAKS AS WINTER LOOMS - REUTERS
China’s strict COVID-19 policy is constraining coal supplies and pushing up prices, industry officials and traders say, just weeks before the ...
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- Indian Oil Corporation Limited
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- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Savvy Resources Ltd - HongKong
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Port Waratah Coal Services - Australia
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Petron Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chamber of Mines of South Africa
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Riau Bara Harum - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Planning Commission, India
- Latin American Coal - Colombia
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- Orica Australia Pty. Ltd.
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Sree Jayajothi Cements Limited - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Kapuas Tunggal Persada - Indonesia
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Wood Mackenzie - Singapore
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Siam City Cement PLC, Thailand
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Sakthi Sugars Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Singapore Mercantile Exchange
- Indian Energy Exchange, India
- Tamil Nadu electricity Board
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining Corp, Philippines
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- London Commodity Brokers - England
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Energy Development Corp, Philippines
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Marubeni Corporation - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indonesian Coal Mining Association
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Indo Tambangraya Megah - Indonesia
- Toyota Tsusho Corporation, Japan
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- The University of Queensland
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- Georgia Ports Authority, United States
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
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