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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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Wednesday, 12 October 22
MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2022 has been remarkable.
Focusing only on Tankers and Bulkers, such v ...
Monday, 10 October 22
ENERGY TRANSITION BOOSTS GLOBAL LONG-TERM DEMAND FOR METALS - FITCH RATINGS
The energy transition will significantly increase demand for metals used in manufacturing of electric vehicles (EVs) and renewable power generation ...
Monday, 10 October 22
GLOBAL CEOS EXPECT IMPENDING RECESSION TO BE 'SHORT AND SHARP,' POLL SHOWS - CNBC
Global CEOs are anticipating a recession in the next 12 months, according to a new survey by professional services firm KPMG, which said more than ...
Thursday, 06 October 22
AUSTRALIA’S RESOURCES REVENUE TO HIT RECORD AMID UKRAINE CONFLICT - REUTERS
Australian resources and energy export earnings are forecast to jump 7% to a record A$450 billion ($290 billion) this fiscal year, bolstered by soa ...
Thursday, 06 October 22
COAL INDIA ASKED TO ENHANCE SUPPLY TO THERMAL POWER PLANTS - IANS
With the festival season round the corner, Coal India Ltd. has been directed by the government to scale up dispatch to thermal power plants.
&n ...
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- Straits Asia Resources Limited - Singapore
- PNOC Exploration Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Central Electricity Authority - India
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Uttam Galva Steels Limited - India
- Sojitz Corporation - Japan
- Maheswari Brothers Coal Limited - India
- Indian Energy Exchange, India
- Kapuas Tunggal Persada - Indonesia
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Formosa Plastics Group - Taiwan
- Videocon Industries ltd - India
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Thai Mozambique Logistica
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Ambuja Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Petron Corporation, Philippines
- Attock Cement Pakistan Limited
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Parliament of New Zealand
- Planning Commission, India
- Wood Mackenzie - Singapore
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- Vizag Seaport Private Limited - India
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Eastern Coal Council - USA
- Sarangani Energy Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- ICICI Bank Limited - India
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Development Corp, Philippines
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- Medco Energi Mining Internasional
- Kumho Petrochemical, South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sindya Power Generating Company Private Ltd
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Bharathi Cement Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- CIMB Investment Bank - Malaysia
- Coastal Gujarat Power Limited - India
- Borneo Indobara - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Port Waratah Coal Services - Australia
- Electricity Authority, New Zealand
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Iligan Light & Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Trasteel International SA, Italy
- Rashtriya Ispat Nigam Limited - India
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- Aboitiz Power Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Tata Chemicals Ltd - India
- London Commodity Brokers - England
- Gujarat Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Makarim & Taira - Indonesia
- Bhatia International Limited - India
- SN Aboitiz Power Inc, Philippines
- Timah Investasi Mineral - Indoneisa
- VISA Power Limited - India
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Intertek Mineral Services - Indonesia
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Meralco Power Generation, Philippines
- Indogreen Group - Indonesia
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Sree Jayajothi Cements Limited - India
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Pendopo Energi Batubara - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- TNB Fuel Sdn Bhd - Malaysia
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- White Energy Company Limited
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Africa Commodities Group - South Africa
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Kobexindo Tractors - Indoneisa
- PTC India Limited - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Cement Manufacturers Association - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Altura Mining Limited, Indonesia
- Economic Council, Georgia
- TeaM Sual Corporation - Philippines
- Commonwealth Bank - Australia
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
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