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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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Friday, 23 September 22
EUROPEAN STEEL BUYERS SEEK DIRECTION IN VOLATILE MARKET - MEPS INTERNATIONAL
Demand for steel is slow to recover, after the summer break. Mill production costs continue to increase. Steel purchasers are uncertain about the f ...
Friday, 23 September 22
BUOYANT COAL INDUSTRY SEEKS WAYS TO STAY IN THE LONG-TERM ENERGY MIX - REUTERS
There’s no doubt that the global coal industry has been a major beneficiary of Russia’s invasion of Ukraine and the subsequent energy c ...
Friday, 23 September 22
MARKET INSIGHT - INTERMODAL
In view of the forthcoming winter, Europe is trying to escape from its energy (oil & gas) dependency from Russia to ensure energy abundance eve ...
Tuesday, 20 September 22
CHINA'S DAILY COAL OUTPUT HITS 3-MONTH LOW IN AUGUST ON RAINS, COVID CURBS - REUTERS
China’s daily coal output in August slipped to a three-month low as some mines in its biggest coal mining regions reduced operations or even ...
Tuesday, 20 September 22
CHINA COAL OUTPUT UP 8.1 PCT IN AUGUST - XINHUA
China’s raw coal output posted stable expansion in August, official data showed.
The country produced 370 million tonnes of ra ...
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- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Kartika Selabumi Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Orica Australia Pty. Ltd.
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Siam City Cement PLC, Thailand
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Indonesian Coal Mining Association
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Makarim & Taira - Indonesia
- Tamil Nadu electricity Board
- Sinarmas Energy and Mining - Indonesia
- Karaikal Port Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Mintek Dendrill Indonesia
- Trasteel International SA, Italy
- McConnell Dowell - Australia
- Cigading International Bulk Terminal - Indonesia
- Posco Energy - South Korea
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Marubeni Corporation - India
- Australian Coal Association
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- CNBM International Corporation - China
- Rashtriya Ispat Nigam Limited - India
- Bangladesh Power Developement Board
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- Georgia Ports Authority, United States
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- London Commodity Brokers - England
- Latin American Coal - Colombia
- Energy Link Ltd, New Zealand
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Aditya Birla Group - India
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Simpson Spence & Young - Indonesia
- South Luzon Thermal Energy Corporation
- Metalloyd Limited - United Kingdom
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- New Zealand Coal & Carbon
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Energy Exchange, India
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- AsiaOL BioFuels Corp., Philippines
- Global Coal Blending Company Limited - Australia
- Ministry of Finance - Indonesia
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Sojitz Corporation - Japan
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Mineral Development Corp Ltd - India
- The University of Queensland
- Central Electricity Authority - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Sidhee Cement - India
- Parry Sugars Refinery, India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- VISA Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- ASAPP Information Group - India
- Australian Commodity Traders Exchange
- Tata Chemicals Ltd - India
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Grasim Industreis Ltd - India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Global Green Power PLC Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Madhucon Powers Ltd - India
- SMG Consultants - Indonesia
- GAC Shipping (India) Pvt Ltd
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Eastern Energy - Thailand
- The State Trading Corporation of India Ltd
- Parliament of New Zealand
- San Jose City I Power Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Singapore Mercantile Exchange
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Central Java Power - Indonesia
- Electricity Generating Authority of Thailand
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Bukit Baiduri Energy - Indonesia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Pipit Mutiara Jaya. PT, Indonesia
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Wood Mackenzie - Singapore
- Meralco Power Generation, Philippines
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