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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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Monday, 19 September 22
BUMA AUSTRALIA AWARDED A$400 MILLION CONTRACT EXTENSION BY BMA FOR GOONYELLA PROJECT
Press Release – PT Delta Dunia Makmur Tbk. (the "Company") announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA ...
Saturday, 17 September 22
CHINA WARNS COAL COMPANIES AGAINST DUAL CONTRACTS, KEEP PRICES STABLE - REUTERS
China’s state economic planner warned coal companies operating at ports in the Bohai Bay region to comply with their long-term contracts to k ...
Saturday, 17 September 22
IS A GLOBAL RECESSION IMMINENT? - WORLD BANK
Since the beginning of the year, a rapid deterioration of growth prospects coupled with rising inflation and tightening financing conditions, has i ...
Saturday, 17 September 22
FITCH RATINGS REVISES GLOBAL METALS & MINING PRICE ASSUMPTIONS
Fitch Ratings has revised its metals and mining price assumptions reflecting evolving economic growth expectations and demand and supply dynamics.
...
Friday, 16 September 22
WHEN IS A VESSEL'S INCOME EARNING CAPACITY AT RISK? 'CONTROLLED INCOME CAN BE A KEY OF SUCCESS' - MARASCO MARINE
Managing marine risks is not an easy task, which requires special knowledge and expertise on the subject per se. Customarily, big ship management c ...
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- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Manunggal Multi Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- ASAPP Information Group - India
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Energy Link Ltd, New Zealand
- Planning Commission, India
- Power Finance Corporation Ltd., India
- Dalmia Cement Bharat India
- Standard Chartered Bank - UAE
- Xindia Steels Limited - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- Cigading International Bulk Terminal - Indonesia
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Grasim Industreis Ltd - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Agrawal Coal Company - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Asmin Koalindo Tuhup - Indonesia
- Aditya Birla Group - India
- Riau Bara Harum - Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Attock Cement Pakistan Limited
- TNB Fuel Sdn Bhd - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Coastal Gujarat Power Limited - India
- Central Electricity Authority - India
- ICICI Bank Limited - India
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Romanian Commodities Exchange
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Indian Oil Corporation Limited
- Bhushan Steel Limited - India
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Lanco Infratech Ltd - India
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- GAC Shipping (India) Pvt Ltd
- Heidelberg Cement - Germany
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Edison Trading Spa - Italy
- Singapore Mercantile Exchange
- Neyveli Lignite Corporation Ltd, - India
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Bharathi Cement Corporation - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Economic Council, Georgia
- Electricity Authority, New Zealand
- IEA Clean Coal Centre - UK
- Sindya Power Generating Company Private Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Deloitte Consulting - India
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Baramulti Group, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- VISA Power Limited - India
- Trasteel International SA, Italy
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Ministry of Finance - Indonesia
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Commonwealth Bank - Australia
- Antam Resourcindo - Indonesia
- Coal and Oil Company - UAE
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meralco Power Generation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Therma Luzon, Inc, Philippines
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Renaissance Capital - South Africa
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Indogreen Group - Indonesia
- Mintek Dendrill Indonesia
- Malabar Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Electricity Generating Authority of Thailand
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Siam City Cement - Thailand
- Global Coal Blending Company Limited - Australia
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- International Coal Ventures Pvt Ltd - India
- India Bulls Power Limited - India
- Coalindo Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Kartika Selabumi Mining - Indonesia
- Metalloyd Limited - United Kingdom
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