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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, 09 September 22
GREECE WILL KEEP COAL-FIRED PLANTS RUNNING FOR LONGER AMID GAS CRISIS - REUTERS
Greece will keep seven coal-fired plants running for longer than previously planned as European countries adjust to a cut in gas flows coming from ...
Friday, 09 September 22
CHINA'S DROUGHT INTENSIFIES GLOBAL COAL SHORTAGE - REUTERS
China’s drought has sent coal prices surging as traders anticipate the lack of hydroelectric generation will force it to burn more coal to me ...
Thursday, 08 September 22
MOODY.S AFFIRMS ABM INVESTAMA'S B1 RATINGS FOLLOWING PLANNED MINORITY INVESTMENT IN COAL MINER; OUTLOOK STABLE
Moody's Investors Service has affirmed ABM Investama Tbk (P.T.)'s B1 corporate family rating (CFR), along with the B1 rating on its senior ...
Thursday, 08 September 22
MARKET INSIGHT - INTERMODAL
While the energy markets are historically stretched, Russian flows of crude oil are closely monitored as the oil trade is ultimately realigned. Mor ...
Friday, 02 September 22
INDONESIA COAL PRICE REFERENCE SLIPS SLIGHTLY IN SEPTEMBER 2022
COALspot.com: Indonesian Coal Price Reference for September delivery drops 0.74 per cent month on month.
The Indonesian Coal Price R ...
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- Latin American Coal - Colombia
- Wilmar Investment Holdings
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Gujarat Sidhee Cement - India
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Altura Mining Limited, Indonesia
- Singapore Mercantile Exchange
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Manunggal Multi Energi - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Minerals Council of Australia
- Bukit Makmur.PT - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Ministry of Finance - Indonesia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Grasim Industreis Ltd - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Videocon Industries ltd - India
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Petrochimia International Co. Ltd.- Taiwan
- Banpu Public Company Limited - Thailand
- Iligan Light & Power Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- IHS Mccloskey Coal Group - USA
- Ministry of Mines - Canada
- Sojitz Corporation - Japan
- Ceylon Electricity Board - Sri Lanka
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Formosa Plastics Group - Taiwan
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- San Jose City I Power Corp, Philippines
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- SMG Consultants - Indonesia
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Riau Bara Harum - Indonesia
- Uttam Galva Steels Limited - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Kobexindo Tractors - Indoneisa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- International Coal Ventures Pvt Ltd - India
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- ASAPP Information Group - India
- Global Green Power PLC Corporation, Philippines
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Antam Resourcindo - Indonesia
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Directorate Of Revenue Intelligence - India
- Kaltim Prima Coal - Indonesia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Independent Power Producers Association of India
- Merrill Lynch Commodities Europe
- South Luzon Thermal Energy Corporation
- MS Steel International - UAE
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Eastern Energy - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Thai Mozambique Logistica
- Bayan Resources Tbk. - Indonesia
- CNBM International Corporation - China
- Africa Commodities Group - South Africa
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Medco Energi Mining Internasional
- Alfred C Toepfer International GmbH - Germany
- Parry Sugars Refinery, India
- Thiess Contractors Indonesia
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Renaissance Capital - South Africa
- Goldman Sachs - Singapore
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- India Bulls Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Simpson Spence & Young - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- The University of Queensland
- Sinarmas Energy and Mining - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Central Java Power - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bukit Baiduri Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Krishnapatnam Port Company Ltd. - India
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