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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, 04 November 22
CHINA EXPANDS COAL TERM CONTRACTS TO ALL MINES TO STABILIZE MARKET - REUTERS
China has expanded long-term thermal coal supply contracts for 2023 to all coal mines and asked power utilities to source more of their demand thro ...
Thursday, 03 November 22
HANDYSIZE VALUES MOVING UP IN OCTOBER, WHILE LNG VALUES SKYROCKET - VESSELSVALUE
Handysize values have increased this month across most ages, following a period of decline. Values for generic 10 year old Handysizes have moved up ...
Thursday, 03 November 22
EUROPEAN GAS SUPPLY SURPLUS, NOVEMBER HBA DOWN TO US$ 308.2 PER TON - ESDM
European gas supply conditions have a major influence in determining fluctuations in the Reference Coal Price (HBA). The November 2022 HBA recorded ...
Wednesday, 02 November 22
MARKET INSIGHT - INTERMODAL
Only five weeks before western sanctions’ full effect, uncertainty over energy has markets and governments on the edge. What was initially th ...
Tuesday, 01 November 22
CHINA COAL TRADE DISRUPTED BY COVID OUTBREAKS AS WINTER LOOMS - REUTERS
China’s strict COVID-19 policy is constraining coal supplies and pushing up prices, industry officials and traders say, just weeks before the ...
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- Energy Development Corp, Philippines
- Australian Coal Association
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indian Energy Exchange, India
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Renaissance Capital - South Africa
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Trasteel International SA, Italy
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Bukit Baiduri Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- PTC India Limited - India
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Maheswari Brothers Coal Limited - India
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- SMC Global Power, Philippines
- Ministry of Transport, Egypt
- Riau Bara Harum - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Jaiprakash Power Ventures ltd
- Orica Australia Pty. Ltd.
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Global Green Power PLC Corporation, Philippines
- Goldman Sachs - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Sojitz Corporation - Japan
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Videocon Industries ltd - India
- Siam City Cement PLC, Thailand
- VISA Power Limited - India
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Mercator Lines Limited - India
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Bhushan Steel Limited - India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Bangladesh Power Developement Board
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Lanco Infratech Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Economic Council, Georgia
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Sical Logistics Limited - India
- Samtan Co., Ltd - South Korea
- MS Steel International - UAE
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Standard Chartered Bank - UAE
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Meenaskhi Energy Private Limited - India
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Thai Mozambique Logistica
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- McConnell Dowell - Australia
- Marubeni Corporation - India
- Altura Mining Limited, Indonesia
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Vizag Seaport Private Limited - India
- Tata Chemicals Ltd - India
- CNBM International Corporation - China
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Cigading International Bulk Terminal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Krishnapatnam Port Company Ltd. - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Kobexindo Tractors - Indoneisa
- Africa Commodities Group - South Africa
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Aditya Birla Group - India
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- Bulk Trading Sa - Switzerland
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- Pendopo Energi Batubara - Indonesia
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