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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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Sunday, 08 January 23
ELEVATED COAL PRICE A DRAG ON MARGINS OF DOMESTIC BASE METAL PLAYERS: ICRA
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICR ...
Monday, 02 January 23
CHINA’S COAL CONSUMPTION TO PEAK BY 2035: REPORT - REUTERS
China’s primary energy consumption is likely to peak at nearly 6.03 billion tonnes of standard coal between 2030 and 2035, refining giant Chi ...
Thursday, 29 December 22
INDIA'S COAL DEMAND LIKELY TO PEAK BETWEEN 2030-2035: MINISTER - ANI
The demand for coal in India will continue and is likely to peak between 2030-2035, Union Minister of Coal, Mines, and Parliamentary Affairs Pralha ...
Thursday, 29 December 22
RIO TINTO AND PARTNERS COULD RECEIVE AS MUCH AS $450M IN GOVERNMENT COMPENSATION FOR COAL PRICE CAP - THE GUARDIAN
Compensation payments for the Gladstone power plant remain the sticking point in the federal government’s coal price cap compensation negotia ...
Wednesday, 28 December 22
MARKET INSIGHT - INTERMODAL
The United Nations Conference on Trade and Development (UNCTAD) published a Global Trade Update on December 13th highlighting that global trade wou ...
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- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- The University of Queensland
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- GVK Power & Infra Limited - India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Videocon Industries ltd - India
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Maheswari Brothers Coal Limited - India
- Bangladesh Power Developement Board
- Global Business Power Corporation, Philippines
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Sree Jayajothi Cements Limited - India
- Global Green Power PLC Corporation, Philippines
- Star Paper Mills Limited - India
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Therma Luzon, Inc, Philippines
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Indian Oil Corporation Limited
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- IEA Clean Coal Centre - UK
- Sical Logistics Limited - India
- Parliament of New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Economic Council, Georgia
- Malabar Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Meenaskhi Energy Private Limited - India
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- Xindia Steels Limited - India
- Electricity Generating Authority of Thailand
- Wood Mackenzie - Singapore
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Vizag Seaport Private Limited - India
- Bukit Makmur.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Mines - Canada
- Bhatia International Limited - India
- Mjunction Services Limited - India
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- SMG Consultants - Indonesia
- AsiaOL BioFuels Corp., Philippines
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Cement Manufacturers Association - India
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bank of Tokyo Mitsubishi UFJ Ltd
- Minerals Council of Australia
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Medco Energi Mining Internasional
- Kalimantan Lumbung Energi - Indonesia
- Kideco Jaya Agung - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- MS Steel International - UAE
- Kobexindo Tractors - Indoneisa
- Thiess Contractors Indonesia
- VISA Power Limited - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Australian Coal Association
- Edison Trading Spa - Italy
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Planning Commission, India
- Independent Power Producers Association of India
- White Energy Company Limited
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Tamil Nadu electricity Board
- Rio Tinto Coal - Australia
- Kaltim Prima Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Karbindo Abesyapradhi - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Vijayanagar Sugar Pvt Ltd - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Riau Bara Harum - Indonesia
- Essar Steel Hazira Ltd - India
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Ministry of Finance - Indonesia
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Leighton Contractors Pty Ltd - Australia
- Kapuas Tunggal Persada - Indonesia
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