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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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Tuesday, 14 November 23
CHINA'S BELT AND ROAD INITIATIVE TURNS AWAY FROM COAL - WOOD MACKENZIE
Ambitious, contentious and big spending, China’s Belt and Road Initiative (BRI) is 10 years old. In that time, China has splashed more than U ...
Friday, 10 November 23
THE COMMODITIES FEED: OIL UNDER PRESSURE - ING
Energy – Brent plummets
The oil market came under significant pressure yesterday. ICE Brent settled 4.19% lower on the day and ...
Friday, 10 November 23
COAL USE AT U.S. POWER PLANTS CONTINUES DOWNWARD SPIRAL; FULL IMPACT ON MINES TO BE FELT IN 2024 - IEEFA
This year, the use of coal by the U.S.’s power producers has been so anemic that the fuel has not achieved a 20% market share in any month so ...
Friday, 10 November 23
INDIA: NATIONAL COAL INDEX RISES 3.83 POINTS IN SEPTEMBER AMID HIGHER DEMAND - LIVEMINT
The National Coal Index (NCI) rose 3.83 points to 143.91 in September amid growing demand for coal.
The union coal ministry on Tuesd ...
Thursday, 09 November 23
WE'RE PRODUCING TOO MUCH COAL, OIL AND GAS, REPORT SAYS - WSJ
World leaders pledged in 2015 to reduce emissions in a combined effort to limit climate change.
Now they are stepping up production ...
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- GMR Energy Limited - India
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Bangladesh Power Developement Board
- Electricity Generating Authority of Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Eastern Energy - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- Kobexindo Tractors - Indoneisa
- PowerSource Philippines DevCo
- Metalloyd Limited - United Kingdom
- Latin American Coal - Colombia
- ICICI Bank Limited - India
- Independent Power Producers Association of India
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Vedanta Resources Plc - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- Australian Coal Association
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Central Electricity Authority - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Finance - Indonesia
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Indogreen Group - Indonesia
- Ministry of Mines - Canada
- Miang Besar Coal Terminal - Indonesia
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Heidelberg Cement - Germany
- Vizag Seaport Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Indonesian Coal Mining Association
- Kalimantan Lumbung Energi - Indonesia
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Tata Chemicals Ltd - India
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Petron Corporation, Philippines
- The State Trading Corporation of India Ltd
- Banpu Public Company Limited - Thailand
- Neyveli Lignite Corporation Ltd, - India
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ministry of Transport, Egypt
- Sindya Power Generating Company Private Ltd
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Uttam Galva Steels Limited - India
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- White Energy Company Limited
- Madhucon Powers Ltd - India
- Interocean Group of Companies - India
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Planning Commission, India
- Wood Mackenzie - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Kideco Jaya Agung - Indonesia
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Economic Council, Georgia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Indian Energy Exchange, India
- Bukit Makmur.PT - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Malabar Cements Ltd - India
- The University of Queensland
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Ind-Barath Power Infra Limited - India
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Bulk Trading Sa - Switzerland
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coastal Gujarat Power Limited - India
- Gujarat Sidhee Cement - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Krishnapatnam Port Company Ltd. - India
- Dalmia Cement Bharat India
- Antam Resourcindo - Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Lanco Infratech Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- Thai Mozambique Logistica
- London Commodity Brokers - England
- Videocon Industries ltd - India
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