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