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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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Monday, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
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Thursday, 15 December 22
MARKET INSIGHT - INTERMODAL
While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The nex ...
Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high ...
Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
WHAT IS CII?
The new International Maritime Organisation’s (“IMO’s”) Carbon Intensity Indicator (“CII”) cer ...
Tuesday, 13 December 22
COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
Inner Mongolia Autonomous Region, China’s leading coal production base, has kicked its production into high gear to meet heating needs as col ...
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- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Siam City Cement PLC, Thailand
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Grasim Industreis Ltd - India
- Independent Power Producers Association of India
- PTC India Limited - India
- Indonesian Coal Mining Association
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- SMC Global Power, Philippines
- Makarim & Taira - Indonesia
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Rio Tinto Coal - Australia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Eastern Coal Council - USA
- Australian Coal Association
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Xindia Steels Limited - India
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Planning Commission, India
- IEA Clean Coal Centre - UK
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Coalindo Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- International Coal Ventures Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Aditya Birla Group - India
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Directorate Of Revenue Intelligence - India
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Cement Manufacturers Association - India
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- VISA Power Limited - India
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- PowerSource Philippines DevCo
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Posco Energy - South Korea
- Straits Asia Resources Limited - Singapore
- Semirara Mining and Power Corporation, Philippines
- Parliament of New Zealand
- Petron Corporation, Philippines
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- Economic Council, Georgia
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- London Commodity Brokers - England
- Salva Resources Pvt Ltd - India
- Central Electricity Authority - India
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Larsen & Toubro Limited - India
- Therma Luzon, Inc, Philippines
- Electricity Authority, New Zealand
- Petrochimia International Co. Ltd.- Taiwan
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Sarangani Energy Corporation, Philippines
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- CIMB Investment Bank - Malaysia
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Maheswari Brothers Coal Limited - India
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indogreen Group - Indonesia
- Tamil Nadu electricity Board
- Agrawal Coal Company - India
- GMR Energy Limited - India
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Rashtriya Ispat Nigam Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ambuja Cements Ltd - India
- Meralco Power Generation, Philippines
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining Corp, Philippines
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- White Energy Company Limited
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- TNB Fuel Sdn Bhd - Malaysia
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- European Bulk Services B.V. - Netherlands
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Bhatia International Limited - India
- Star Paper Mills Limited - India
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Manunggal Multi Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Sojitz Corporation - Japan
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