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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, 19 October 22
MARKET INSIGHT - INTERMODAL
The LNG market remains extremely tight, and as a result adding further pressure on the vessel charter market, which is already stretched due to the ...
Sunday, 16 October 22
COULD A RETURN TO SHALE EXPLORATION BE PART OF THE SOLUTION TO EUROPE'S GAS SUPPLY PROBLEM? - WOOD MACKENZIE
The European gas market is in turmoil. Russia’s invasion of Ukraine has shaken things up, triggering a complete rethink of European energy st ...
Thursday, 13 October 22
THERMAL COAL PRICES RETREAT AS WINTER SUPPLY FEARS EASE - REUTERS
The prices of key thermal seaborne coal grades are retreating amid signs that supplies will be sufficient to meet winter demand in both Europe and ...
Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that i ...
Thursday, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
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- Aditya Birla Group - India
- Bharathi Cement Corporation - India
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Commonwealth Bank - Australia
- SMG Consultants - Indonesia
- Trasteel International SA, Italy
- Deloitte Consulting - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- Ministry of Mines - Canada
- Karaikal Port Pvt Ltd - India
- Star Paper Mills Limited - India
- VISA Power Limited - India
- London Commodity Brokers - England
- Orica Mining Services - Indonesia
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Indian Energy Exchange, India
- Energy Development Corp, Philippines
- Essar Steel Hazira Ltd - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- International Coal Ventures Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Ceylon Electricity Board - Sri Lanka
- Indo Tambangraya Megah - Indonesia
- Kobexindo Tractors - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Minerals Council of Australia
- Salva Resources Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Electricity Generating Authority of Thailand
- Coastal Gujarat Power Limited - India
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Kepco SPC Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Kapuas Tunggal Persada - Indonesia
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Coalindo Energy - Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Maheswari Brothers Coal Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Global Business Power Corporation, Philippines
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Price Waterhouse Coopers - Russia
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- Bhushan Steel Limited - India
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Standard Chartered Bank - UAE
- Power Finance Corporation Ltd., India
- Riau Bara Harum - Indonesia
- Georgia Ports Authority, United States
- Independent Power Producers Association of India
- Thiess Contractors Indonesia
- Wilmar Investment Holdings
- Indian Oil Corporation Limited
- Eastern Energy - Thailand
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Petron Corporation, Philippines
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Australian Coal Association
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Singapore Mercantile Exchange
- Kaltim Prima Coal - Indonesia
- Jaiprakash Power Ventures ltd
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- CNBM International Corporation - China
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- IHS Mccloskey Coal Group - USA
- Kideco Jaya Agung - Indonesia
- Global Green Power PLC Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Edison Trading Spa - Italy
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Latin American Coal - Colombia
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Uttam Galva Steels Limited - India
- Merrill Lynch Commodities Europe
- Central Java Power - Indonesia
- TeaM Sual Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Directorate Of Revenue Intelligence - India
- Sindya Power Generating Company Private Ltd
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Sinarmas Energy and Mining - Indonesia
- Goldman Sachs - Singapore
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
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