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