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