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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, 02 December 22
INDONESIAN COAL PRICE REFERENCE PLUNGE TOWARD US$ 281.48 A TON AS DEMAND DROPS WORLDWIDE
COALspot.com: The cost of coal is falling so fast that it is beginning to put real money back in the pockets of end-users.
Indonesia ...
Wednesday, 30 November 22
INDONESIA’S BUMI RESOURCES TARGETS 2023 COAL OUTPUT OF 80 MLN TONNES - REUTERS
Indonesian coal miner PT Bumi Resources Tbk BUMI.JKis eyeing a 10% increase in output to 80 million tonnes next year amid expectations for more fav ...
Wednesday, 30 November 22
TANKERS: LONGER HAULS TO SUPPORT CONTINUED STRENGTH - BIMCO
Highlights
A rebound in the dirty tanker trade has led the Baltic Exchange Dirty Index (BDTI) to increase by 64% since our last report from mid ...
Wednesday, 30 November 22
MARKET INSIGHT - INTERMODAL
Shipping, although a conservative and innovation adverse industry, is currently in a transition period of digital transformation. According to a su ...
Tuesday, 29 November 22
INDIA TO RECEIVE FIRST LNG CARGO FROM INDONESIA’S TANGGUH LNG - REUTERS
India will receive its first cargo from Indonesia’s Tangguh liquefied natural gas (LNG) plant at the Dahej terminal on Monday, according to a ...
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- Rio Tinto Coal - Australia
- Electricity Authority, New Zealand
- Thiess Contractors Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Sakthi Sugars Limited - India
- Renaissance Capital - South Africa
- Electricity Generating Authority of Thailand
- Bhoruka Overseas - Indonesia
- Planning Commission, India
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Singapore Mercantile Exchange
- Bulk Trading Sa - Switzerland
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Miang Besar Coal Terminal - Indonesia
- Mjunction Services Limited - India
- Madhucon Powers Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- New Zealand Coal & Carbon
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Salva Resources Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Bukit Makmur.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Krishnapatnam Port Company Ltd. - India
- Gujarat Sidhee Cement - India
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Anglo American - United Kingdom
- The State Trading Corporation of India Ltd
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- Parliament of New Zealand
- Indika Energy - Indonesia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- Ind-Barath Power Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Central Java Power - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Lanco Infratech Ltd - India
- Attock Cement Pakistan Limited
- Ambuja Cements Ltd - India
- PTC India Limited - India
- Indian Energy Exchange, India
- PetroVietnam Power Coal Import and Supply Company
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement - Thailand
- PNOC Exploration Corporation - Philippines
- Dalmia Cement Bharat India
- Bharathi Cement Corporation - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Heidelberg Cement - Germany
- San Jose City I Power Corp, Philippines
- Minerals Council of Australia
- London Commodity Brokers - England
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Kohat Cement Company Ltd. - Pakistan
- IEA Clean Coal Centre - UK
- Medco Energi Mining Internasional
- The University of Queensland
- Tamil Nadu electricity Board
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Chamber of Mines of South Africa
- Tata Chemicals Ltd - India
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Global Coal Blending Company Limited - Australia
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- Ministry of Mines - Canada
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Goldman Sachs - Singapore
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Gujarat Electricity Regulatory Commission - India
- Indonesian Coal Mining Association
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kaltim Prima Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Globalindo Alam Lestari - Indonesia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Simpson Spence & Young - Indonesia
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- SMG Consultants - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- PowerSource Philippines DevCo
- India Bulls Power Limited - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- Xindia Steels Limited - India
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Videocon Industries ltd - India
- Baramulti Group, Indonesia
- Aditya Birla Group - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Leighton Contractors Pty Ltd - Australia
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Cigading International Bulk Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- Interocean Group of Companies - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Global Business Power Corporation, Philippines
- The Treasury - Australian Government
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