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