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