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