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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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Monday, 06 December 21
CHINA SETS 2022 ANNUAL THERMAL COAL PRICES AT 700 YUAN/T - MEDIA: REUTERS
China’s top economic planner has proposed to set annual thermal coal prices for 2022 at between 550 yuan and 850 yuan ($86-$133) per tonne, a ...
Thursday, 02 December 21
BUMI RECORDED US$ 666.18 MILLION AS REVENUE IN THE 3RD QUARTER, UP 13.31% YOY
PT Bumi Resources Tbk and its subsidiaries have recorded a surge in revenue in the third quarter of 2021. BUMI has recorded US$ 666.18 million as r ...
Thursday, 02 December 21
CHINA'S COAL CRUNCH IS OVER, BUT PRICES ARE STILL TOO HIGH - REUTERS
China’s coal crisis has largely been resolved with gains in both production and stockpiles sufficient to ensure power supplies over winter.
...
Wednesday, 01 December 21
2022 OUTLOOK: INDONESIAN COAL MINING - FITCH RATINGS
Fitch Ratings has a neutral outlook on the Indonesian coal sector for 2022.
Earnings generation should slow down as selling pr ...
Wednesday, 01 December 21
SUPPLY OF COAL TO POWER PLANTS IN NOV MORE THAN CONSUMPTION: JOSHI - PTI
The supply of coal to power plants in November is more than the consumption, resulting in rise in stock of dry fuel at power plants, and this trend ...
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- Energy Development Corp, Philippines
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Indian Energy Exchange, India
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- SMG Consultants - Indonesia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Savvy Resources Ltd - HongKong
- Tata Chemicals Ltd - India
- Kideco Jaya Agung - Indonesia
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Price Waterhouse Coopers - Russia
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Bangladesh Power Developement Board
- Videocon Industries ltd - India
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Xindia Steels Limited - India
- Mjunction Services Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Malabar Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Antam Resourcindo - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Rio Tinto Coal - Australia
- Merrill Lynch Commodities Europe
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- PTC India Limited - India
- Trasteel International SA, Italy
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- Planning Commission, India
- Vijayanagar Sugar Pvt Ltd - India
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- India Bulls Power Limited - India
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Posco Energy - South Korea
- The University of Queensland
- Therma Luzon, Inc, Philippines
- Goldman Sachs - Singapore
- Cement Manufacturers Association - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Coal Blending Company Limited - Australia
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- VISA Power Limited - India
- Binh Thuan Hamico - Vietnam
- Minerals Council of Australia
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- Australian Coal Association
- Economic Council, Georgia
- Ministry of Mines - Canada
- Indian Oil Corporation Limited
- Iligan Light & Power Inc, Philippines
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Kobexindo Tractors - Indoneisa
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- London Commodity Brokers - England
- Petrochimia International Co. Ltd.- Taiwan
- Agrawal Coal Company - India
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Indonesian Coal Mining Association
- Electricity Authority, New Zealand
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Metalloyd Limited - United Kingdom
- Coalindo Energy - Indonesia
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- Chettinad Cement Corporation Ltd - India
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Baramulti Group, Indonesia
- Central Electricity Authority - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kumho Petrochemical, South Korea
- Lanco Infratech Ltd - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Simpson Spence & Young - Indonesia
- Indo Tambangraya Megah - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- Romanian Commodities Exchange
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