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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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Monday, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
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Thursday, 15 December 22
MARKET INSIGHT - INTERMODAL
While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The nex ...
Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high ...
Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
WHAT IS CII?
The new International Maritime Organisation’s (“IMO’s”) Carbon Intensity Indicator (“CII”) cer ...
Tuesday, 13 December 22
COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
Inner Mongolia Autonomous Region, China’s leading coal production base, has kicked its production into high gear to meet heating needs as col ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Mining Services - Indonesia
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- Ambuja Cements Ltd - India
- ICICI Bank Limited - India
- Rio Tinto Coal - Australia
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Planning Commission, India
- Madhucon Powers Ltd - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Bhatia International Limited - India
- Minerals Council of Australia
- India Bulls Power Limited - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Wood Mackenzie - Singapore
- The University of Queensland
- VISA Power Limited - India
- Eastern Coal Council - USA
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Carbofer General Trading SA - India
- Anglo American - United Kingdom
- Timah Investasi Mineral - Indoneisa
- Xindia Steels Limited - India
- Merrill Lynch Commodities Europe
- Iligan Light & Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Mercator Lines Limited - India
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- Gujarat Electricity Regulatory Commission - India
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Alfred C Toepfer International GmbH - Germany
- Toyota Tsusho Corporation, Japan
- Sindya Power Generating Company Private Ltd
- Globalindo Alam Lestari - Indonesia
- Star Paper Mills Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Tamil Nadu electricity Board
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Sakthi Sugars Limited - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Indogreen Group - Indonesia
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- The State Trading Corporation of India Ltd
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- Aditya Birla Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Medco Energi Mining Internasional
- Parliament of New Zealand
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Power Finance Corporation Ltd., India
- Kalimantan Lumbung Energi - Indonesia
- ASAPP Information Group - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Interocean Group of Companies - India
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Kohat Cement Company Ltd. - Pakistan
- Goldman Sachs - Singapore
- Semirara Mining and Power Corporation, Philippines
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Australian Coal Association
- Wilmar Investment Holdings
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- International Coal Ventures Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Ministry of Mines - Canada
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- Orica Australia Pty. Ltd.
- Krishnapatnam Port Company Ltd. - India
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Makarim & Taira - Indonesia
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Parry Sugars Refinery, India
- Manunggal Multi Energi - Indonesia
- Kobexindo Tractors - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Electricity Authority, New Zealand
- Jaiprakash Power Ventures ltd
- Meralco Power Generation, Philippines
- Coalindo Energy - Indonesia
- Lanco Infratech Ltd - India
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