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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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Tuesday, 13 December 22
AUSTRALIA TO CAP PRICES OF COAL, GAS TO DRIVE DOWN ENERGY BILLS - REUTERS
Australia will cap coal and gas prices for a year in a bid to shave utility bills for households and businesses hit by soaring costs because of the ...
Tuesday, 13 December 22
YANCOAL AUSTRALIA TO PREPAY $459 MLN DEBT AS RECORD COAL PRICES BOOST CASHFLOWS - REUTERS
Coal miner Yancoal Australia Ltd. said on Friday it intended to prepay $459 million of its debt on or around Dec. 16, as elevated coal prices were ...
Tuesday, 13 December 22
WHY COAL LEADS THE RISE IN COMMODITIES THIS YEAR - MARKETWATCH
This year marked a resurgence for coal, often known — and loathed — by environmentalists as the dirtiest energy source, with prices mor ...
Thursday, 08 December 22
BIMCO TO REVISE WAR RISK CLAUSES
Work to revise the BIMCO War Cancellation Clause 2004, the BIMCO War Risks Clause for Time Chartering 2013 (CONWARTIME 2013) and the BIMCO War Risk ...
Thursday, 08 December 22
COAL ROYALTY PAYMENTS BOOST AUSTRALIAN STATE'S BUDGET FORECAST - REUTERS
Australia’s Queensland state on Wednesday forecast a record surplus for the current financial year, largely driven by higher royalty payments ...
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- Bukit Makmur.PT - Indonesia
- Energy Link Ltd, New Zealand
- Borneo Indobara - Indonesia
- Siam City Cement - Thailand
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Energy Exchange, India
- Trasteel International SA, Italy
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Ambuja Cements Ltd - India
- GMR Energy Limited - India
- Sojitz Corporation - Japan
- Orica Mining Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Medco Energi Mining Internasional
- Bhoruka Overseas - Indonesia
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Australian Coal Association
- India Bulls Power Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Interocean Group of Companies - India
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Aboitiz Power Corporation - Philippines
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Kumho Petrochemical, South Korea
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Simpson Spence & Young - Indonesia
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- Bukit Asam (Persero) Tbk - Indonesia
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Petrochimia International Co. Ltd.- Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- San Jose City I Power Corp, Philippines
- Independent Power Producers Association of India
- Global Green Power PLC Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Central Electricity Authority - India
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Larsen & Toubro Limited - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- IHS Mccloskey Coal Group - USA
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Latin American Coal - Colombia
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sarangani Energy Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Sindya Power Generating Company Private Ltd
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Rashtriya Ispat Nigam Limited - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Grasim Industreis Ltd - India
- CIMB Investment Bank - Malaysia
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Tamil Nadu electricity Board
- Global Business Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Oldendorff Carriers - Singapore
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Edison Trading Spa - Italy
- Videocon Industries ltd - India
- Sical Logistics Limited - India
- Jindal Steel & Power Ltd - India
- Iligan Light & Power Inc, Philippines
- PNOC Exploration Corporation - Philippines
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Miang Besar Coal Terminal - Indonesia
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Karaikal Port Pvt Ltd - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Mercator Lines Limited - India
- Kapuas Tunggal Persada - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Krishnapatnam Port Company Ltd. - India
- Binh Thuan Hamico - Vietnam
- Africa Commodities Group - South Africa
- Attock Cement Pakistan Limited
- Directorate Of Revenue Intelligence - India
- Sree Jayajothi Cements Limited - India
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- Timah Investasi Mineral - Indoneisa
- Goldman Sachs - Singapore
- The University of Queensland
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Kalimantan Lumbung Energi - Indonesia
- Makarim & Taira - Indonesia
- Planning Commission, India
- Rio Tinto Coal - Australia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
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