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