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