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