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