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