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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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- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Electricity Generating Authority of Thailand
- Bulk Trading Sa - Switzerland
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Independent Power Producers Association of India
- Bukit Asam (Persero) Tbk - Indonesia
- Videocon Industries ltd - India
- Ministry of Transport, Egypt
- Kumho Petrochemical, South Korea
- ASAPP Information Group - India
- The University of Queensland
- TNB Fuel Sdn Bhd - Malaysia
- IEA Clean Coal Centre - UK
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Metalloyd Limited - United Kingdom
- International Coal Ventures Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Tata Chemicals Ltd - India
- Renaissance Capital - South Africa
- Coastal Gujarat Power Limited - India
- Energy Development Corp, Philippines
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Siam City Cement - Thailand
- Directorate General of MIneral and Coal - Indonesia
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Rio Tinto Coal - Australia
- Uttam Galva Steels Limited - India
- Vizag Seaport Private Limited - India
- Holcim Trading Pte Ltd - Singapore
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- Australian Coal Association
- Indian Oil Corporation Limited
- Parliament of New Zealand
- Iligan Light & Power Inc, Philippines
- Gujarat Mineral Development Corp Ltd - India
- European Bulk Services B.V. - Netherlands
- Medco Energi Mining Internasional
- Lanco Infratech Ltd - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- South Luzon Thermal Energy Corporation
- Kartika Selabumi Mining - Indonesia
- Petron Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Economic Council, Georgia
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Savvy Resources Ltd - HongKong
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Maheswari Brothers Coal Limited - India
- Alfred C Toepfer International GmbH - Germany
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Sojitz Corporation - Japan
- TeaM Sual Corporation - Philippines
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Barasentosa Lestari - Indonesia
- Essar Steel Hazira Ltd - India
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Binh Thuan Hamico - Vietnam
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- Central Electricity Authority - India
- Singapore Mercantile Exchange
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Planning Commission, India
- Tamil Nadu electricity Board
- Indika Energy - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Deloitte Consulting - India
- Bukit Makmur.PT - Indonesia
- Standard Chartered Bank - UAE
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Altura Mining Limited, Indonesia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- India Bulls Power Limited - India
- Bharathi Cement Corporation - India
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- Marubeni Corporation - India
- Georgia Ports Authority, United States
- Semirara Mining Corp, Philippines
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- GMR Energy Limited - India
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ambuja Cements Ltd - India
- Thiess Contractors Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Xindia Steels Limited - India
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
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