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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, 08 July 22
AUSTRALIAN COAL PRICE BREAKS AGAIN LEVEL US$ 400/TON!, UP AROUND 4% - CNBC INDONESIA
Coal prices shot up again and crossed the level of US$ 400 per ton. On Thursday (7/7/2022) trading, the selling price of August contract closed at ...
Friday, 08 July 22
INDONESIA MULLS MORE FREQUENT SETTING OF CRUDE PALM OIL REFERENCE PRICE - REUTERS
Indonesia is considering setting its crude palm oil (CPO) export reference price every two weeks instead of monthly, a senior trade ministry offici ...
Friday, 08 July 22
BUNKER PRICES EXPECTED TO RECOVER LOST GROUND NEXT WEEK - SERGEY IVANOV, MABUX
Over the Week 27, the world bunker indices showed a sharp decline, primarily due to the fall in oil prices on July 05. The 380 HSFO index fell by 5 ...
Thursday, 07 July 22
NTPC MINES 61% MORE COAL AT 4.22 MN METRIC TONNES IN APRIL-JUNE: PTI
State-owned power giant NTPC on Tuesday said that its coal output grew by 61 per cent to Rs 42.40 lakh metric tonnes in April-June quarter from 26. ...
Thursday, 07 July 22
COAL INDIA'S PRODUCTION SETS RECORD INCREASE OF 29% YOY AT 36 MT IN Q1FY23 - IIFL SECURITIES
Coal India Limited (CIL) has ended April-June quarter FY’23 capping a historic high of 29% yoy output growth, compared to same quarter FY&rsq ...
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- Thiess Contractors Indonesia
- Vedanta Resources Plc - India
- McConnell Dowell - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- Power Finance Corporation Ltd., India
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Straits Asia Resources Limited - Singapore
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Wood Mackenzie - Singapore
- Bhushan Steel Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Africa Commodities Group - South Africa
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Indian Energy Exchange, India
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Bayan Resources Tbk. - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mintek Dendrill Indonesia
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Attock Cement Pakistan Limited
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Mercator Lines Limited - India
- Ind-Barath Power Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Videocon Industries ltd - India
- Dalmia Cement Bharat India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Economic Council, Georgia
- Ministry of Mines - Canada
- Holcim Trading Pte Ltd - Singapore
- South Luzon Thermal Energy Corporation
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Antam Resourcindo - Indonesia
- Renaissance Capital - South Africa
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Anglo American - United Kingdom
- Ceylon Electricity Board - Sri Lanka
- TNB Fuel Sdn Bhd - Malaysia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- AsiaOL BioFuels Corp., Philippines
- San Jose City I Power Corp, Philippines
- Singapore Mercantile Exchange
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Savvy Resources Ltd - HongKong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PowerSource Philippines DevCo
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Aboitiz Power Corporation - Philippines
- Energy Link Ltd, New Zealand
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Independent Power Producers Association of India
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Posco Energy - South Korea
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Baramulti Group, Indonesia
- International Coal Ventures Pvt Ltd - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Marubeni Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cigading International Bulk Terminal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Therma Luzon, Inc, Philippines
- Tata Chemicals Ltd - India
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Ambuja Cements Ltd - India
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- Parliament of New Zealand
- Electricity Generating Authority of Thailand
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Australian Commodity Traders Exchange
- Bhatia International Limited - India
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- The University of Queensland
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Iligan Light & Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- LBH Netherlands Bv - Netherlands
- MS Steel International - UAE
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Intertek Mineral Services - Indonesia
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Sakthi Sugars Limited - India
- Siam City Cement PLC, Thailand
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Essar Steel Hazira Ltd - India
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Interocean Group of Companies - India
- Star Paper Mills Limited - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
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