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