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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, 05 October 22
BUNKER PRICES DOWN AGAIN; IS THERE MORE TO COME? - INTEGR8 FUELS
It’s the economy…..”
VLSFO prices are now back to levels at the start of this year. After all the extremes of thi ...
Wednesday, 05 October 22
MARKET INSIGHT - INTERMODAL
Amid the looming western sanctions on Russia, the country is challenged to pivot its energy markets away from Europe and toward the East. Yet, Russ ...
Tuesday, 04 October 22
A REMARKABLE SHIFT IN FORTUNES HAS BEEN NOTED IN THE CRUDE OIL TANKER MARKETS - ALLIED SHIPPING
A remarkable shift in fortunes has been noted in the crude oil tanker markets over the past month, yet despite these shifts being seemingly in thei ...
Tuesday, 04 October 22
OIL PRICES COULD SOON RETURN TO $100 AS OPEC+ CONSIDERS ‘HISTORIC’ CUT, ANALYSTS SAY - CNBC
An influential alliance of some of the world’s most powerful oil producers is reportedly considering their largest output cut since the start ...
Tuesday, 04 October 22
INDONESIAN COAL PRICE REFERENCE SURGE AGAIN TO RECORD HIGH
COALspot.com: Indonesian Coal Price Reference reached another record high in October as Russia's war in Ukraine continues to spark a surge in c ...
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- Thiess Contractors Indonesia
- Toyota Tsusho Corporation, Japan
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Bhushan Steel Limited - India
- Cigading International Bulk Terminal - Indonesia
- Manunggal Multi Energi - Indonesia
- Anglo American - United Kingdom
- Energy Development Corp, Philippines
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Central Electricity Authority - India
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Commonwealth Bank - Australia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- Mintek Dendrill Indonesia
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Medco Energi Mining Internasional
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Aditya Birla Group - India
- Interocean Group of Companies - India
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Chettinad Cement Corporation Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- Globalindo Alam Lestari - Indonesia
- Baramulti Group, Indonesia
- Coalindo Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Siam City Cement - Thailand
- Indogreen Group - Indonesia
- Carbofer General Trading SA - India
- Sree Jayajothi Cements Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Banpu Public Company Limited - Thailand
- Holcim Trading Pte Ltd - Singapore
- Posco Energy - South Korea
- Riau Bara Harum - Indonesia
- Indika Energy - Indonesia
- PNOC Exploration Corporation - Philippines
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Madhucon Powers Ltd - India
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Parliament of New Zealand
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Central Java Power - Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- India Bulls Power Limited - India
- ASAPP Information Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Kaltim Prima Coal - Indonesia
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Formosa Plastics Group - Taiwan
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Minerals Council of Australia
- TeaM Sual Corporation - Philippines
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Merrill Lynch Commodities Europe
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Iligan Light & Power Inc, Philippines
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Star Paper Mills Limited - India
- Salva Resources Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Renaissance Capital - South Africa
- London Commodity Brokers - England
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Heidelberg Cement - Germany
- SMC Global Power, Philippines
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Port Waratah Coal Services - Australia
- Ambuja Cements Ltd - India
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Uttam Galva Steels Limited - India
- ICICI Bank Limited - India
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Makarim & Taira - Indonesia
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining Corp, Philippines
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