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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, 29 November 22
SEABORNE COAL FLOWS IN 2022 - SIGNAL
This year is crucial for the energy mix in European countries, as the EU has imposed new sanctions on Russia. It is important to emphasize that the ...
Friday, 25 November 22
APAC THERMAL COAL PRICES CORRECT FROM RECORD HIGH - FITCH RATINGS
Prices of Newcastle 6,000kcal/kg coal have corrected following falling European gas and coal prices, and more supply from Australia could help miti ...
Thursday, 24 November 22
VIETNAM BOOSTS COAL USE PLAN FOR 2030 AS G7 CLIMATE OFFER STALLS - REUTERS
Vietnam has increased its coal power target for 2030 under a revised draft energy plan, government documents seen by Reuters show, while renewables ...
Tuesday, 22 November 22
THE GENCON 2022 CHARTERPARTY - GARD
KNOWLEDGE TO ELEVATE
BIMCO has published a revamped version of the popular GENCON charterparty. Our author, Helena Biggs, was a member of the ...
Tuesday, 22 November 22
INDIA POWER BINGES ON COAL, OUTPACES ASIA - REUTERS
India’s coal-fired power output has increased much faster than any other country in the Asia Pacific since Russia’s invasion of Ukraine ...
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- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Parliament of New Zealand
- Economic Council, Georgia
- The University of Queensland
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Eastern Coal Council - USA
- Central Electricity Authority - India
- Gujarat Mineral Development Corp Ltd - India
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- IEA Clean Coal Centre - UK
- Gujarat Sidhee Cement - India
- South Luzon Thermal Energy Corporation
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Wilmar Investment Holdings
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- TeaM Sual Corporation - Philippines
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Videocon Industries ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- India Bulls Power Limited - India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Barasentosa Lestari - Indonesia
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- The Treasury - Australian Government
- Planning Commission, India
- Directorate Of Revenue Intelligence - India
- Petron Corporation, Philippines
- GVK Power & Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Anglo American - United Kingdom
- Goldman Sachs - Singapore
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Renaissance Capital - South Africa
- Attock Cement Pakistan Limited
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- White Energy Company Limited
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Cigading International Bulk Terminal - Indonesia
- ICICI Bank Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- Larsen & Toubro Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Jindal Steel & Power Ltd - India
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Borneo Indobara - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Coalindo Energy - Indonesia
- Australian Commodity Traders Exchange
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- Savvy Resources Ltd - HongKong
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Essar Steel Hazira Ltd - India
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Simpson Spence & Young - Indonesia
- Energy Development Corp, Philippines
- Metalloyd Limited - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Rashtriya Ispat Nigam Limited - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- IHS Mccloskey Coal Group - USA
- Heidelberg Cement - Germany
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Binh Thuan Hamico - Vietnam
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Kobexindo Tractors - Indoneisa
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Coastal Gujarat Power Limited - India
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- New Zealand Coal & Carbon
- Sakthi Sugars Limited - India
- Thiess Contractors Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- PowerSource Philippines DevCo
- Pendopo Energi Batubara - Indonesia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Price Waterhouse Coopers - Russia
- Latin American Coal - Colombia
- Formosa Plastics Group - Taiwan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Jorong Barutama Greston.PT - Indonesia
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Mjunction Services Limited - India
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Marubeni Corporation - India
- Toyota Tsusho Corporation, Japan
- Deloitte Consulting - India
- Kapuas Tunggal Persada - Indonesia
- PTC India Limited - India
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