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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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Wednesday, 19 October 22
MARKET INSIGHT - INTERMODAL
The LNG market remains extremely tight, and as a result adding further pressure on the vessel charter market, which is already stretched due to the ...
Sunday, 16 October 22
COULD A RETURN TO SHALE EXPLORATION BE PART OF THE SOLUTION TO EUROPE'S GAS SUPPLY PROBLEM? - WOOD MACKENZIE
The European gas market is in turmoil. Russia’s invasion of Ukraine has shaken things up, triggering a complete rethink of European energy st ...
Thursday, 13 October 22
THERMAL COAL PRICES RETREAT AS WINTER SUPPLY FEARS EASE - REUTERS
The prices of key thermal seaborne coal grades are retreating amid signs that supplies will be sufficient to meet winter demand in both Europe and ...
Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that i ...
Thursday, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
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- Eastern Energy - Thailand
- GMR Energy Limited - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Makmur.PT - Indonesia
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Indian Energy Exchange, India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Planning Commission, India
- Standard Chartered Bank - UAE
- Dalmia Cement Bharat India
- SN Aboitiz Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Timah Investasi Mineral - Indoneisa
- CNBM International Corporation - China
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Rio Tinto Coal - Australia
- Thai Mozambique Logistica
- Australian Coal Association
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Sinarmas Energy and Mining - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- White Energy Company Limited
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Binh Thuan Hamico - Vietnam
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Energy Development Corp, Philippines
- Kumho Petrochemical, South Korea
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Bangladesh Power Developement Board
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Trasteel International SA, Italy
- Wood Mackenzie - Singapore
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Intertek Mineral Services - Indonesia
- International Coal Ventures Pvt Ltd - India
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- PTC India Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- The University of Queensland
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Heidelberg Cement - Germany
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Mercuria Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Interocean Group of Companies - India
- Central Electricity Authority - India
- VISA Power Limited - India
- Xindia Steels Limited - India
- Jindal Steel & Power Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Carbofer General Trading SA - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Parry Sugars Refinery, India
- The Treasury - Australian Government
- Directorate General of MIneral and Coal - Indonesia
- Renaissance Capital - South Africa
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Siam City Cement PLC, Thailand
- Gujarat Sidhee Cement - India
- Thiess Contractors Indonesia
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- Goldman Sachs - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Indika Energy - Indonesia
- Georgia Ports Authority, United States
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Bahari Cakrawala Sebuku - Indonesia
- Posco Energy - South Korea
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Baiduri Energy - Indonesia
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- TeaM Sual Corporation - Philippines
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Neyveli Lignite Corporation Ltd, - India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- Independent Power Producers Association of India
- Latin American Coal - Colombia
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