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