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