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