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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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Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercializ ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
Sunday, 21 August 22
COAL-RICH POLAND FACES WINTER OF ENERGY DISCONTENT - DW
Poland uses 10 million tons of coal a year to heat households — a whopping 87% of all coal consumed in EU homes in 2019, according to the War ...
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- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- OPG Power Generation Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- LBH Netherlands Bv - Netherlands
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Miang Besar Coal Terminal - Indonesia
- PowerSource Philippines DevCo
- Coal and Oil Company - UAE
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- GVK Power & Infra Limited - India
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Binh Thuan Hamico - Vietnam
- Globalindo Alam Lestari - Indonesia
- New Zealand Coal & Carbon
- The State Trading Corporation of India Ltd
- Minerals Council of Australia
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Ceylon Electricity Board - Sri Lanka
- Holcim Trading Pte Ltd - Singapore
- Indo Tambangraya Megah - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Vizag Seaport Private Limited - India
- Ministry of Finance - Indonesia
- Jindal Steel & Power Ltd - India
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- Power Finance Corporation Ltd., India
- Petron Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhushan Steel Limited - India
- Samtan Co., Ltd - South Korea
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Coastal Gujarat Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Meenaskhi Energy Private Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Larsen & Toubro Limited - India
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Antam Resourcindo - Indonesia
- Thai Mozambique Logistica
- Barasentosa Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- Planning Commission, India
- Thiess Contractors Indonesia
- Banpu Public Company Limited - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Orica Australia Pty. Ltd.
- IHS Mccloskey Coal Group - USA
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Central Electricity Authority - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- SMG Consultants - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Chamber of Mines of South Africa
- Savvy Resources Ltd - HongKong
- Coalindo Energy - Indonesia
- Agrawal Coal Company - India
- Leighton Contractors Pty Ltd - Australia
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Videocon Industries ltd - India
- GAC Shipping (India) Pvt Ltd
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Intertek Mineral Services - Indonesia
- Sojitz Corporation - Japan
- Gujarat Mineral Development Corp Ltd - India
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Bhatia International Limited - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Sical Logistics Limited - India
- Manunggal Multi Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Madhucon Powers Ltd - India
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- VISA Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Meralco Power Generation, Philippines
- Parliament of New Zealand
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Grasim Industreis Ltd - India
- GMR Energy Limited - India
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Bulk Trading Sa - Switzerland
- Sarangani Energy Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- India Bulls Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Cement Manufacturers Association - India
- Sakthi Sugars Limited - India
- Kalimantan Lumbung Energi - Indonesia
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