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