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