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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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Saturday, 11 December 21
BUNKER BUYERS LOSE UP TO $5/MT FOR NOT COVERING ENOUGH SUPPLIERS - INTEGR8 FUELS
With the Brent price recently touching the $80 mark and before the Omicron variant concerns pushed it lower, bunker prices reached levels not seen ...
Tuesday, 07 December 21
SUPERCYCLE DEMAND: ARE WE THERE YET? - WOOD MACKENZIE
Taking young children on a long journey is fraught with challenges, not least the inevitable question a few minutes after leaving: are we there yet ...
Tuesday, 07 December 21
COAL WOULD REMAIN ENERGY LEADER FOR AT LEAST 15 YEARS - LIVEMINT
Coal India Ltd (CIL) has been in the eye of the storm after fuel stocks at coal-fuelled power plants depleted in October. Fuel stocks since are bei ...
Tuesday, 07 December 21
GLOBAL SHIPPING OUTLOOK TURNS STABLE FROM POSITIVE ON THE BACK OF PEAKING EARNINGS DURING 2021 - MOODY'S
The outlook for the global shipping industry is changed to stable from positive for the next 12 to 18 months due to demand slightly outstripping su ...
Tuesday, 07 December 21
COAL FIRMS SEE SHARE PRICES SURGE MONDAY, AFTER GOVERNMENT READJUSTS CONTRACT PRICES - GLOBAL TIMES
Share prices of China’s coal enterprises jumped on Monday on the A-share market following a nationwide adjustment to annual thermal coal pric ...
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- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- PowerSource Philippines DevCo
- Siam City Cement - Thailand
- Timah Investasi Mineral - Indoneisa
- Maharashtra Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- PTC India Limited - India
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- CIMB Investment Bank - Malaysia
- Binh Thuan Hamico - Vietnam
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Romanian Commodities Exchange
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Mercuria Energy - Indonesia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Bharathi Cement Corporation - India
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Intertek Mineral Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Central Electricity Authority - India
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Marubeni Corporation - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- GN Power Mariveles Coal Plant, Philippines
- Ind-Barath Power Infra Limited - India
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Grasim Industreis Ltd - India
- Thai Mozambique Logistica
- Indian Energy Exchange, India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- Ambuja Cements Ltd - India
- MS Steel International - UAE
- OPG Power Generation Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Bukit Makmur.PT - Indonesia
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Kobexindo Tractors - Indoneisa
- New Zealand Coal & Carbon
- Wilmar Investment Holdings
- London Commodity Brokers - England
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Bangladesh Power Developement Board
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Australian Commodity Traders Exchange
- Jindal Steel & Power Ltd - India
- Anglo American - United Kingdom
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Indonesian Coal Mining Association
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- VISA Power Limited - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- White Energy Company Limited
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Kideco Jaya Agung - Indonesia
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Cigading International Bulk Terminal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Chettinad Cement Corporation Ltd - India
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Kepco SPC Power Corporation, Philippines
- Lanco Infratech Ltd - India
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tata Chemicals Ltd - India
- Mjunction Services Limited - India
- Bayan Resources Tbk. - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Finance - Indonesia
- Deloitte Consulting - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Salva Resources Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Kumho Petrochemical, South Korea
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Global Coal Blending Company Limited - Australia
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Energy Link Ltd, New Zealand
- Sree Jayajothi Cements Limited - India
- Georgia Ports Authority, United States
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