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