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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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Wednesday, 05 October 22
BUNKER PRICES DOWN AGAIN; IS THERE MORE TO COME? - INTEGR8 FUELS
It’s the economy…..”
VLSFO prices are now back to levels at the start of this year. After all the extremes of thi ...
Wednesday, 05 October 22
MARKET INSIGHT - INTERMODAL
Amid the looming western sanctions on Russia, the country is challenged to pivot its energy markets away from Europe and toward the East. Yet, Russ ...
Tuesday, 04 October 22
A REMARKABLE SHIFT IN FORTUNES HAS BEEN NOTED IN THE CRUDE OIL TANKER MARKETS - ALLIED SHIPPING
A remarkable shift in fortunes has been noted in the crude oil tanker markets over the past month, yet despite these shifts being seemingly in thei ...
Tuesday, 04 October 22
OIL PRICES COULD SOON RETURN TO $100 AS OPEC+ CONSIDERS ‘HISTORIC’ CUT, ANALYSTS SAY - CNBC
An influential alliance of some of the world’s most powerful oil producers is reportedly considering their largest output cut since the start ...
Tuesday, 04 October 22
INDONESIAN COAL PRICE REFERENCE SURGE AGAIN TO RECORD HIGH
COALspot.com: Indonesian Coal Price Reference reached another record high in October as Russia's war in Ukraine continues to spark a surge in c ...
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- SN Aboitiz Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Agrawal Coal Company - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- Intertek Mineral Services - Indonesia
- Petron Corporation, Philippines
- ICICI Bank Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mintek Dendrill Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Electricity Generating Authority of Thailand
- Thiess Contractors Indonesia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Bulk Trading Sa - Switzerland
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Kumho Petrochemical, South Korea
- Metalloyd Limited - United Kingdom
- OPG Power Generation Pvt Ltd - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indogreen Group - Indonesia
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- VISA Power Limited - India
- Videocon Industries ltd - India
- Medco Energi Mining Internasional
- Salva Resources Pvt Ltd - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Electricity Authority, New Zealand
- South Luzon Thermal Energy Corporation
- Independent Power Producers Association of India
- Economic Council, Georgia
- Jaiprakash Power Ventures ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Tamil Nadu electricity Board
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Grasim Industreis Ltd - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Karaikal Port Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Tata Chemicals Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Energy - Thailand
- Holcim Trading Pte Ltd - Singapore
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Siam City Cement - Thailand
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Ind-Barath Power Infra Limited - India
- Vizag Seaport Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Edison Trading Spa - Italy
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- PTC India Limited - India
- Indika Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- Banpu Public Company Limited - Thailand
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Mercator Lines Limited - India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Australian Coal Association
- Power Finance Corporation Ltd., India
- Orica Mining Services - Indonesia
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- The University of Queensland
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Planning Commission, India
- Larsen & Toubro Limited - India
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- The Treasury - Australian Government
- Parliament of New Zealand
- Barasentosa Lestari - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Georgia Ports Authority, United States
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- TeaM Sual Corporation - Philippines
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