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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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Wednesday, 24 November 21
PRICE OF CHINA’S COAL FUTURE DROPS BY 60% AS NATIONWIDE DAILY OUTPUT REACHES OVER 12 MILLION TONS: NDRC - GLOBAL TIMES
China’s daily coal output has now stabilized after reaching over 12 million tons and the price of coal futures has declined to 800 yuan ($125 ...
Friday, 19 November 21
CHINA: COAL SUPPLIES TO STABILIZE FOR COMING COLD SEASON
China is capable of ensuring stable coal supplies this winter and next spring with the increase in coal production and the rising stockpiles at pow ...
Wednesday, 17 November 21
MARKET INSIGHT - INTERMODAL
It has been another declining week for the dry bulk market and evidently, we are seeing asset values gradually losing momentum as well. Following a ...
Tuesday, 16 November 21
EARNINGS RECOVERY IN INDONESIAN COAL TO CONTINUE THROUGH 2021, BUT SLOW IN 2022 - FITCH RATINGS
The recovery in the operating and financial performance of Indonesian coal miners and coal contractors is likely to slow in 2022, but coal prices s ...
Tuesday, 16 November 21
INDONESIA’S 2022 COAL USE FOR POWER GENERATION SET TO RISE 3% - REUTERS
Indonesia’s coal consumption for power generation is likely to rise by 3.1% next year compared to 2021, the head of the country’s state ...
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- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- The University of Queensland
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Vizag Seaport Private Limited - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- Economic Council, Georgia
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Larsen & Toubro Limited - India
- Binh Thuan Hamico - Vietnam
- Kideco Jaya Agung - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Gujarat Sidhee Cement - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Madhucon Powers Ltd - India
- Carbofer General Trading SA - India
- Borneo Indobara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- TeaM Sual Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Barasentosa Lestari - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- The Treasury - Australian Government
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Karaikal Port Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Romanian Commodities Exchange
- Bhoruka Overseas - Indonesia
- Rio Tinto Coal - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Central Electricity Authority - India
- Bhatia International Limited - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- VISA Power Limited - India
- Renaissance Capital - South Africa
- Eastern Energy - Thailand
- Therma Luzon, Inc, Philippines
- Price Waterhouse Coopers - Russia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Dalmia Cement Bharat India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- San Jose City I Power Corp, Philippines
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- GMR Energy Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Aditya Birla Group - India
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Trasteel International SA, Italy
- Tamil Nadu electricity Board
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Mercuria Energy - Indonesia
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- MS Steel International - UAE
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Posco Energy - South Korea
- Rashtriya Ispat Nigam Limited - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Oldendorff Carriers - Singapore
- OPG Power Generation Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Independent Power Producers Association of India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Indian Oil Corporation Limited
- Chamber of Mines of South Africa
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- GAC Shipping (India) Pvt Ltd
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
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