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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, 09 September 22
GREECE WILL KEEP COAL-FIRED PLANTS RUNNING FOR LONGER AMID GAS CRISIS - REUTERS
Greece will keep seven coal-fired plants running for longer than previously planned as European countries adjust to a cut in gas flows coming from ...
Friday, 09 September 22
CHINA'S DROUGHT INTENSIFIES GLOBAL COAL SHORTAGE - REUTERS
China’s drought has sent coal prices surging as traders anticipate the lack of hydroelectric generation will force it to burn more coal to me ...
Thursday, 08 September 22
MOODY.S AFFIRMS ABM INVESTAMA'S B1 RATINGS FOLLOWING PLANNED MINORITY INVESTMENT IN COAL MINER; OUTLOOK STABLE
Moody's Investors Service has affirmed ABM Investama Tbk (P.T.)'s B1 corporate family rating (CFR), along with the B1 rating on its senior ...
Thursday, 08 September 22
MARKET INSIGHT - INTERMODAL
While the energy markets are historically stretched, Russian flows of crude oil are closely monitored as the oil trade is ultimately realigned. Mor ...
Friday, 02 September 22
INDONESIA COAL PRICE REFERENCE SLIPS SLIGHTLY IN SEPTEMBER 2022
COALspot.com: Indonesian Coal Price Reference for September delivery drops 0.74 per cent month on month.
The Indonesian Coal Price R ...
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- Barasentosa Lestari - Indonesia
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Merrill Lynch Commodities Europe
- Thiess Contractors Indonesia
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- Billiton Holdings Pty Ltd - Australia
- Dalmia Cement Bharat India
- Cement Manufacturers Association - India
- Standard Chartered Bank - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Banpu Public Company Limited - Thailand
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Timah Investasi Mineral - Indoneisa
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- PTC India Limited - India
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- IEA Clean Coal Centre - UK
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Posco Energy - South Korea
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Commonwealth Bank - Australia
- MS Steel International - UAE
- Central Java Power - Indonesia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Chamber of Mines of South Africa
- Globalindo Alam Lestari - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Kepco SPC Power Corporation, Philippines
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Romanian Commodities Exchange
- AsiaOL BioFuels Corp., Philippines
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Pendopo Energi Batubara - Indonesia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Mjunction Services Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Indian Energy Exchange, India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- McConnell Dowell - Australia
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- International Coal Ventures Pvt Ltd - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Generating Authority of Thailand
- Star Paper Mills Limited - India
- South Luzon Thermal Energy Corporation
- Trasteel International SA, Italy
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Medco Energi Mining Internasional
- The University of Queensland
- Cigading International Bulk Terminal - Indonesia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Meralco Power Generation, Philippines
- Borneo Indobara - Indonesia
- Kartika Selabumi Mining - Indonesia
- Jindal Steel & Power Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- GVK Power & Infra Limited - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Ministry of Finance - Indonesia
- Marubeni Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Planning Commission, India
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Thai Mozambique Logistica
- Minerals Council of Australia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Kaltim Prima Coal - Indonesia
- Sakthi Sugars Limited - India
- Sojitz Corporation - Japan
- Economic Council, Georgia
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ambuja Cements Ltd - India
- LBH Netherlands Bv - Netherlands
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Baramulti Group, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Global Coal Blending Company Limited - Australia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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