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