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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, 07 December 22
MARKET INSIGHT - INTERMODAL
China’s coal imports from January to October were 230.1m mt, a decrease of around 10.7% y-o-y (2021 totalled 323.2m mt). The question is if t ...
Wednesday, 07 December 22
INDIA'S STEEL MINISTRY SEEKS IMPORT TAX WAIVER FOR COKING COAL - SOURCES REUTERS REPORTED
India’s steel ministry has asked the finance ministry for a waiver of import tax on coking coal among a slew of raw materials, as it scramble ...
Tuesday, 06 December 22
INDIA'S COAL PRODUCTION RISES 17% IN APR-NOV PERIOD - PTI
The country’s coal production increased 17 per cent to 524.20 million tonnes in the April-November period of the ongoing fiscal.
...
Tuesday, 06 December 22
INDONESIA AIMS TO STARTS COLLECTING COAL LEVY IN Q1 2023 - MINISTER, REUTERS REPORTED
Indonesia aims to establish a coal fund agency and start collecting a coal levy in the first quarter next year, to help ensure supply security for ...
Saturday, 03 December 22
COMPLEX RUSSIAN PRICE CAP MAKES MARITIME VISIBILITY A MUST - WINDWARD
Many commentators and analysts are speculating about the potential impact the Russian seaborne oil price cap will have on organizations and entitie ...
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- Georgia Ports Authority, United States
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Ministry of Finance - Indonesia
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Coalindo Energy - Indonesia
- Commonwealth Bank - Australia
- Tata Chemicals Ltd - India
- Bulk Trading Sa - Switzerland
- Trasteel International SA, Italy
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- Marubeni Corporation - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Indo Tambangraya Megah - Indonesia
- Power Finance Corporation Ltd., India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Global Business Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- Petron Corporation, Philippines
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Lanco Infratech Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Vedanta Resources Plc - India
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- Energy Development Corp, Philippines
- McConnell Dowell - Australia
- Oldendorff Carriers - Singapore
- Bharathi Cement Corporation - India
- Directorate Of Revenue Intelligence - India
- Renaissance Capital - South Africa
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- SMC Global Power, Philippines
- Independent Power Producers Association of India
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Metalloyd Limited - United Kingdom
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- The University of Queensland
- Indian Oil Corporation Limited
- Jaiprakash Power Ventures ltd
- Asmin Koalindo Tuhup - Indonesia
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- Mercator Lines Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- PNOC Exploration Corporation - Philippines
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Coastal Gujarat Power Limited - India
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Medco Energi Mining Internasional
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kaltim Prima Coal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Goldman Sachs - Singapore
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- Globalindo Alam Lestari - Indonesia
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Intertek Mineral Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- TeaM Sual Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Singapore Mercantile Exchange
- GAC Shipping (India) Pvt Ltd
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Electricity Authority, New Zealand
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Riau Bara Harum - Indonesia
- Sakthi Sugars Limited - India
- Ministry of Mines - Canada
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Siam City Cement PLC, Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Cement Manufacturers Association - India
- Xindia Steels Limited - India
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Toyota Tsusho Corporation, Japan
- Maharashtra Electricity Regulatory Commission - India
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Romanian Commodities Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Orica Australia Pty. Ltd.
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- MS Steel International - UAE
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