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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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Sunday, 02 October 22
MISC STRENGTHENS ITS PARTNERSHIP WITH SEARIVER MARITIME
MISC Berhad (MISC) today announced that its subsidiaries Polaris LNG Three Pte. Ltd. and Polaris LNG Four Pte. Ltd. have secured long-term time cha ...
Thursday, 29 September 22
MARKET INSIGHT - INTERMODAL
This week, focus turns to the 38th APPEC Conference, where leading professionals from the global oil industry will discuss the future key drivers o ...
Thursday, 29 September 22
HIGH COAL PRICES REMAIN A CONCERN FOR DOMESTIC NON-FERROUS METAL COMPANIES - ICRA
According to ICRA on Monday, the high price of coal will have a negative effect on the profitability of domestic non-ferrous metal companies that m ...
Tuesday, 27 September 22
14% INCREASE IN EUROPEAN COAL DEMAND TO BE SHORT-TERM TREND - WOOD MACKENZIE
European seaborne thermal coal demand is projected to increase 14% or 12 million metric tonnes (Mt) this year to 98 Mt as it grapples with the curr ...
Friday, 23 September 22
CHINA DIGS DEEP TO RAISE COAL OUTPUT TO RECORD HIGH - REUTERS
China’s coal production has surged this year as the government seeks to improve energy security by reducing dependence on imports and amassin ...
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- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Siam City Cement - Thailand
- Eastern Coal Council - USA
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Bhushan Steel Limited - India
- Goldman Sachs - Singapore
- ASAPP Information Group - India
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Oldendorff Carriers - Singapore
- Bulk Trading Sa - Switzerland
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- OPG Power Generation Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Riau Bara Harum - Indonesia
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Alfred C Toepfer International GmbH - Germany
- Banpu Public Company Limited - Thailand
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- SMC Global Power, Philippines
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- IEA Clean Coal Centre - UK
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Baramulti Group, Indonesia
- Directorate Of Revenue Intelligence - India
- Salva Resources Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Parliament of New Zealand
- PTC India Limited - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Africa Commodities Group - South Africa
- Orica Australia Pty. Ltd.
- Marubeni Corporation - India
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Kaltim Prima Coal - Indonesia
- Romanian Commodities Exchange
- GN Power Mariveles Coal Plant, Philippines
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Eastern Energy - Thailand
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Star Paper Mills Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Sakthi Sugars Limited - India
- Asmin Koalindo Tuhup - Indonesia
- ICICI Bank Limited - India
- Australian Coal Association
- Bukit Baiduri Energy - Indonesia
- Coal and Oil Company - UAE
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Merrill Lynch Commodities Europe
- Videocon Industries ltd - India
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Trasteel International SA, Italy
- Indika Energy - Indonesia
- Orica Mining Services - Indonesia
- Heidelberg Cement - Germany
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Energy Link Ltd, New Zealand
- Wilmar Investment Holdings
- MS Steel International - UAE
- Electricity Authority, New Zealand
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Independent Power Producers Association of India
- Tamil Nadu electricity Board
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Essar Steel Hazira Ltd - India
- Binh Thuan Hamico - Vietnam
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Central Electricity Authority - India
- Simpson Spence & Young - Indonesia
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Thiess Contractors Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Thai Mozambique Logistica
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- White Energy Company Limited
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Indo Tambangraya Megah - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
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