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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, 19 October 22
MARKET INSIGHT - INTERMODAL
The LNG market remains extremely tight, and as a result adding further pressure on the vessel charter market, which is already stretched due to the ...
Sunday, 16 October 22
COULD A RETURN TO SHALE EXPLORATION BE PART OF THE SOLUTION TO EUROPE'S GAS SUPPLY PROBLEM? - WOOD MACKENZIE
The European gas market is in turmoil. Russia’s invasion of Ukraine has shaken things up, triggering a complete rethink of European energy st ...
Thursday, 13 October 22
THERMAL COAL PRICES RETREAT AS WINTER SUPPLY FEARS EASE - REUTERS
The prices of key thermal seaborne coal grades are retreating amid signs that supplies will be sufficient to meet winter demand in both Europe and ...
Thursday, 13 October 22
SPOT COAL BIDDING: CHINESE FIRM WANTS REVISED MECHANISM - BUSINESS RECORDER
Chinese company M/s Huaneng Shandong Ruyi (Pakistan) Energy Limited (HSR) has cautioned National Electric Power Regulatory Authority (Nepra) that i ...
Thursday, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
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- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Bhatia International Limited - India
- Petron Corporation, Philippines
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Kumho Petrochemical, South Korea
- Economic Council, Georgia
- Karbindo Abesyapradhi - Indoneisa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- SN Aboitiz Power Inc, Philippines
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Kobexindo Tractors - Indoneisa
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Iligan Light & Power Inc, Philippines
- Meralco Power Generation, Philippines
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Mintek Dendrill Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Bhushan Steel Limited - India
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Therma Luzon, Inc, Philippines
- Thai Mozambique Logistica
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Bhoruka Overseas - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Central Java Power - Indonesia
- Coal and Oil Company - UAE
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- OPG Power Generation Pvt Ltd - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Holcim Trading Pte Ltd - Singapore
- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Gujarat Electricity Regulatory Commission - India
- Australian Commodity Traders Exchange
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Maheswari Brothers Coal Limited - India
- India Bulls Power Limited - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- MS Steel International - UAE
- Commonwealth Bank - Australia
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Coastal Gujarat Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- Miang Besar Coal Terminal - Indonesia
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- SMG Consultants - Indonesia
- Central Electricity Authority - India
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- London Commodity Brokers - England
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Larsen & Toubro Limited - India
- Oldendorff Carriers - Singapore
- Africa Commodities Group - South Africa
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- ICICI Bank Limited - India
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- ASAPP Information Group - India
- The Treasury - Australian Government
- Coalindo Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Bangladesh Power Developement Board
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
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