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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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Sunday, 02 October 22
MISC STRENGTHENS ITS PARTNERSHIP WITH SEARIVER MARITIME
MISC Berhad (MISC) today announced that its subsidiaries Polaris LNG Three Pte. Ltd. and Polaris LNG Four Pte. Ltd. have secured long-term time cha ...
Thursday, 29 September 22
MARKET INSIGHT - INTERMODAL
This week, focus turns to the 38th APPEC Conference, where leading professionals from the global oil industry will discuss the future key drivers o ...
Thursday, 29 September 22
HIGH COAL PRICES REMAIN A CONCERN FOR DOMESTIC NON-FERROUS METAL COMPANIES - ICRA
According to ICRA on Monday, the high price of coal will have a negative effect on the profitability of domestic non-ferrous metal companies that m ...
Tuesday, 27 September 22
14% INCREASE IN EUROPEAN COAL DEMAND TO BE SHORT-TERM TREND - WOOD MACKENZIE
European seaborne thermal coal demand is projected to increase 14% or 12 million metric tonnes (Mt) this year to 98 Mt as it grapples with the curr ...
Friday, 23 September 22
CHINA DIGS DEEP TO RAISE COAL OUTPUT TO RECORD HIGH - REUTERS
China’s coal production has surged this year as the government seeks to improve energy security by reducing dependence on imports and amassin ...
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- Kartika Selabumi Mining - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Minerals Council of Australia
- Edison Trading Spa - Italy
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Transport, Egypt
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Xindia Steels Limited - India
- Tamil Nadu electricity Board
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- Dalmia Cement Bharat India
- Australian Coal Association
- Essar Steel Hazira Ltd - India
- Coal and Oil Company - UAE
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Intertek Mineral Services - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Eastern Energy - Thailand
- Planning Commission, India
- Carbofer General Trading SA - India
- Simpson Spence & Young - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- CIMB Investment Bank - Malaysia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Trasteel International SA, Italy
- Power Finance Corporation Ltd., India
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- Leighton Contractors Pty Ltd - Australia
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Miang Besar Coal Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Meralco Power Generation, Philippines
- Samtan Co., Ltd - South Korea
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- GMR Energy Limited - India
- Jaiprakash Power Ventures ltd
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Jorong Barutama Greston.PT - Indonesia
- Timah Investasi Mineral - Indoneisa
- Metalloyd Limited - United Kingdom
- Marubeni Corporation - India
- Africa Commodities Group - South Africa
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Interocean Group of Companies - India
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- International Coal Ventures Pvt Ltd - India
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- Iligan Light & Power Inc, Philippines
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Heidelberg Cement - Germany
- Economic Council, Georgia
- Sree Jayajothi Cements Limited - India
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Singapore Mercantile Exchange
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Global Green Power PLC Corporation, Philippines
- Wilmar Investment Holdings
- LBH Netherlands Bv - Netherlands
- Globalindo Alam Lestari - Indonesia
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Coastal Gujarat Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Bukit Asam (Persero) Tbk - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Manunggal Multi Energi - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- Vijayanagar Sugar Pvt Ltd - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Indika Energy - Indonesia
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Alfred C Toepfer International GmbH - Germany
- Borneo Indobara - Indonesia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Barasentosa Lestari - Indonesia
- Karaikal Port Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Kepco SPC Power Corporation, Philippines
- Medco Energi Mining Internasional
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Agrawal Coal Company - India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
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