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