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