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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, 06 July 22
MARKET INSIGHT - INTERMODAL
Following the 3rd Decarbonizing Shipping Forum, held in Hamburg on June 2022, there has been a meaningful resurgence of discussions within the ship ...
Tuesday, 05 July 22
WHY ARE VLSFO PRICES SO HIGH, ESPECIALLY IN SINGAPORE? - STEVE CHRISTY, INTEGR8 FUELS
Tightness in products still trumps talks of recession
Last month we wrote about the fears of recession versus the tightness in product markets ...
Tuesday, 05 July 22
ADANI ENTERPRISES LOWEST BIDDER IN COAL INDIA'S IMPORT TENDER: REPORT - BUSINESS STANDARD
Coal India Ltd floated its first import tender on behalf of power companies, where Adani Enterprises Ltd came out to be the lowest bidder, a report ...
Tuesday, 05 July 22
CHINA POLICY KEY FOR IRON ORE OUTLOOK - ING
China’s covid lockdowns and recessionary risks hit iron ore
Iron ore prices have fallen significantly from their year-to-date high of US$ ...
Monday, 04 July 22
INDONESIAN COAL PRICE REFERENCE SLIGHTLY DOWN IN JULY
COALspot.com: Indonesian Coal Price Reference for July delivery drops 1.52 per cent month on month.
The Indonesian Coal Price Refere ...
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- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Edison Trading Spa - Italy
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- CNBM International Corporation - China
- Attock Cement Pakistan Limited
- Globalindo Alam Lestari - Indonesia
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Port Waratah Coal Services - Australia
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indogreen Group - Indonesia
- Standard Chartered Bank - UAE
- IHS Mccloskey Coal Group - USA
- Africa Commodities Group - South Africa
- Samtan Co., Ltd - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Uttam Galva Steels Limited - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PowerSource Philippines DevCo
- Siam City Cement PLC, Thailand
- Madhucon Powers Ltd - India
- Salva Resources Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Meenaskhi Energy Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Grasim Industreis Ltd - India
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bukit Asam (Persero) Tbk - Indonesia
- PTC India Limited - India
- Star Paper Mills Limited - India
- Sree Jayajothi Cements Limited - India
- Indian Energy Exchange, India
- Economic Council, Georgia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Commonwealth Bank - Australia
- Leighton Contractors Pty Ltd - Australia
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Oldendorff Carriers - Singapore
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Merrill Lynch Commodities Europe
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Thiess Contractors Indonesia
- Lanco Infratech Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Sical Logistics Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- The University of Queensland
- ICICI Bank Limited - India
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Coal and Oil Company - UAE
- Central Java Power - Indonesia
- Parliament of New Zealand
- White Energy Company Limited
- Miang Besar Coal Terminal - Indonesia
- Barasentosa Lestari - Indonesia
- Medco Energi Mining Internasional
- Global Green Power PLC Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- South Luzon Thermal Energy Corporation
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Semirara Mining Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Rio Tinto Coal - Australia
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Directorate Of Revenue Intelligence - India
- Minerals Council of Australia
- Xindia Steels Limited - India
- Videocon Industries ltd - India
- Bukit Makmur.PT - Indonesia
- Indian Oil Corporation Limited
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Banpu Public Company Limited - Thailand
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- OPG Power Generation Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Cigading International Bulk Terminal - Indonesia
- Cement Manufacturers Association - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Sojitz Corporation - Japan
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Karbindo Abesyapradhi - Indoneisa
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Vizag Seaport Private Limited - India
- Aditya Birla Group - India
- Kumho Petrochemical, South Korea
- Wilmar Investment Holdings
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Australian Coal Association
- Dalmia Cement Bharat India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- The Treasury - Australian Government
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Mercuria Energy - Indonesia
- Siam City Cement - Thailand
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Bhushan Steel Limited - India
- Global Business Power Corporation, Philippines
- Deloitte Consulting - India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
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