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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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Friday, 18 November 22
REALITIES OF LOI LIABILITIES - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
The cargo misdelivery claim in Trafigura Maritime Logistics Pte Ltd v. Clearlake Shipping Pte Ltd (Miracle Hope) [2022] E ...
Tuesday, 15 November 22
CHINA SEES RISING COAL STORAGE AMID SUPPLY PUSH - XINHUA
Coal stockpiles at China’s power plants have seen considerable increases, ensuring energy supply for the winter, the country’s energy r ...
Tuesday, 15 November 22
SEABORNE THERMAL COAL PRICES START TO EASE, BUT PROCESS IS UNEVEN - REUTERS
Prices for seaborne thermal coal have started to drop as fears of a winter energy crunch ease, but the rate of decline has varied across the differ ...
Thursday, 10 November 22
INDIA: THERMAL PLANTS HAVE ADEQUATE COAL STOCKS AT 25.6 MILLION TONNES, SAYS GOVT - IANS
The coal stock with domestic dry fuel-based power plants, as on October 31, was 25.6 million tonnes, the government said, adding that the availabil ...
Tuesday, 08 November 22
OUTLOOK ON CHINA’S WEAKENED BASIC MATERIALS SECTOR CLOUDED BY POLICY SWINGS - FITCH RATINGS
Fitch Ratings expects basic materials demand in China to improve qoq in 4Q22, driven by seasonally higher construction activity, solid infrastructu ...
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- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Global Coal Blending Company Limited - Australia
- Tamil Nadu electricity Board
- The State Trading Corporation of India Ltd
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Australian Commodity Traders Exchange
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Holcim Trading Pte Ltd - Singapore
- Gujarat Sidhee Cement - India
- Central Electricity Authority - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- New Zealand Coal & Carbon
- Billiton Holdings Pty Ltd - Australia
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- McConnell Dowell - Australia
- TeaM Sual Corporation - Philippines
- GMR Energy Limited - India
- The University of Queensland
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Altura Mining Limited, Indonesia
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- OPG Power Generation Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Bayan Resources Tbk. - Indonesia
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Meralco Power Generation, Philippines
- Wood Mackenzie - Singapore
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- GAC Shipping (India) Pvt Ltd
- Kapuas Tunggal Persada - Indonesia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Straits Asia Resources Limited - Singapore
- Sojitz Corporation - Japan
- Karaikal Port Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Bangladesh Power Developement Board
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Trasteel International SA, Italy
- Sarangani Energy Corporation, Philippines
- Electricity Generating Authority of Thailand
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Mintek Dendrill Indonesia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- IEA Clean Coal Centre - UK
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Bulk Trading Sa - Switzerland
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Bukit Makmur.PT - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- International Coal Ventures Pvt Ltd - India
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Attock Cement Pakistan Limited
- CIMB Investment Bank - Malaysia
- Siam City Cement PLC, Thailand
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Ministry of Mines - Canada
- Star Paper Mills Limited - India
- Petron Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Parliament of New Zealand
- Semirara Mining and Power Corporation, Philippines
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Independent Power Producers Association of India
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Kumho Petrochemical, South Korea
- Deloitte Consulting - India
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Kartika Selabumi Mining - Indonesia
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Africa Commodities Group - South Africa
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Tata Chemicals Ltd - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Sree Jayajothi Cements Limited - India
- Jindal Steel & Power Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Marubeni Corporation - India
- White Energy Company Limited
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- India Bulls Power Limited - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
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