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