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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, 08 July 22
AUSTRALIAN COAL PRICE BREAKS AGAIN LEVEL US$ 400/TON!, UP AROUND 4% - CNBC INDONESIA
Coal prices shot up again and crossed the level of US$ 400 per ton. On Thursday (7/7/2022) trading, the selling price of August contract closed at ...
Friday, 08 July 22
INDONESIA MULLS MORE FREQUENT SETTING OF CRUDE PALM OIL REFERENCE PRICE - REUTERS
Indonesia is considering setting its crude palm oil (CPO) export reference price every two weeks instead of monthly, a senior trade ministry offici ...
Friday, 08 July 22
BUNKER PRICES EXPECTED TO RECOVER LOST GROUND NEXT WEEK - SERGEY IVANOV, MABUX
Over the Week 27, the world bunker indices showed a sharp decline, primarily due to the fall in oil prices on July 05. The 380 HSFO index fell by 5 ...
Thursday, 07 July 22
NTPC MINES 61% MORE COAL AT 4.22 MN METRIC TONNES IN APRIL-JUNE: PTI
State-owned power giant NTPC on Tuesday said that its coal output grew by 61 per cent to Rs 42.40 lakh metric tonnes in April-June quarter from 26. ...
Thursday, 07 July 22
COAL INDIA'S PRODUCTION SETS RECORD INCREASE OF 29% YOY AT 36 MT IN Q1FY23 - IIFL SECURITIES
Coal India Limited (CIL) has ended April-June quarter FY’23 capping a historic high of 29% yoy output growth, compared to same quarter FY&rsq ...
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- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- White Energy Company Limited
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Videocon Industries ltd - India
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Port Waratah Coal Services - Australia
- Bayan Resources Tbk. - Indonesia
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Bulk Trading Sa - Switzerland
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Petron Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- Makarim & Taira - Indonesia
- ICICI Bank Limited - India
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sojitz Corporation - Japan
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Bukit Baiduri Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Indonesian Coal Mining Association
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- GN Power Mariveles Coal Plant, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Banpu Public Company Limited - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Lanco Infratech Ltd - India
- Tamil Nadu electricity Board
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Bharathi Cement Corporation - India
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- San Jose City I Power Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Petrochimia International Co. Ltd.- Taiwan
- GVK Power & Infra Limited - India
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Orica Australia Pty. Ltd.
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Bhatia International Limited - India
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- GMR Energy Limited - India
- Goldman Sachs - Singapore
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Central Java Power - Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- CNBM International Corporation - China
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- SN Aboitiz Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- PTC India Limited - India
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Indo Tambangraya Megah - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Georgia Ports Authority, United States
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Formosa Plastics Group - Taiwan
- Alfred C Toepfer International GmbH - Germany
- Siam City Cement PLC, Thailand
- Kobexindo Tractors - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Latin American Coal - Colombia
- The Treasury - Australian Government
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
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