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