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