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