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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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- Baramulti Group, Indonesia
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- New Zealand Coal & Carbon
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Mines - Canada
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Alfred C Toepfer International GmbH - Germany
- Carbofer General Trading SA - India
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- Salva Resources Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Bhushan Steel Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Gujarat Mineral Development Corp Ltd - India
- Mjunction Services Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- PowerSource Philippines DevCo
- Semirara Mining Corp, Philippines
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- The University of Queensland
- Dalmia Cement Bharat India
- Indian Energy Exchange, India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Global Business Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- CIMB Investment Bank - Malaysia
- India Bulls Power Limited - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Minerals Council of Australia
- Formosa Plastics Group - Taiwan
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Orica Australia Pty. Ltd.
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- McConnell Dowell - Australia
- Indika Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Posco Energy - South Korea
- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- Thai Mozambique Logistica
- Jindal Steel & Power Ltd - India
- Coalindo Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Renaissance Capital - South Africa
- Altura Mining Limited, Indonesia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Economic Council, Georgia
- Barasentosa Lestari - Indonesia
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- The State Trading Corporation of India Ltd
- Sarangani Energy Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Cigading International Bulk Terminal - Indonesia
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Jorong Barutama Greston.PT - Indonesia
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Commonwealth Bank - Australia
- Siam City Cement PLC, Thailand
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- Meralco Power Generation, Philippines
- Planning Commission, India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Karaikal Port Pvt Ltd - India
- MS Steel International - UAE
- Siam City Cement - Thailand
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Antam Resourcindo - Indonesia
- European Bulk Services B.V. - Netherlands
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- GMR Energy Limited - India
- Bhoruka Overseas - Indonesia
- Bharathi Cement Corporation - India
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