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