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