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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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Friday, 23 September 22
EUROPEAN STEEL BUYERS SEEK DIRECTION IN VOLATILE MARKET - MEPS INTERNATIONAL
Demand for steel is slow to recover, after the summer break. Mill production costs continue to increase. Steel purchasers are uncertain about the f ...
Friday, 23 September 22
BUOYANT COAL INDUSTRY SEEKS WAYS TO STAY IN THE LONG-TERM ENERGY MIX - REUTERS
There’s no doubt that the global coal industry has been a major beneficiary of Russia’s invasion of Ukraine and the subsequent energy c ...
Friday, 23 September 22
MARKET INSIGHT - INTERMODAL
In view of the forthcoming winter, Europe is trying to escape from its energy (oil & gas) dependency from Russia to ensure energy abundance eve ...
Tuesday, 20 September 22
CHINA'S DAILY COAL OUTPUT HITS 3-MONTH LOW IN AUGUST ON RAINS, COVID CURBS - REUTERS
China’s daily coal output in August slipped to a three-month low as some mines in its biggest coal mining regions reduced operations or even ...
Tuesday, 20 September 22
CHINA COAL OUTPUT UP 8.1 PCT IN AUGUST - XINHUA
China’s raw coal output posted stable expansion in August, official data showed.
The country produced 370 million tonnes of ra ...
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- Lanco Infratech Ltd - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Kobexindo Tractors - Indoneisa
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- OPG Power Generation Pvt Ltd - India
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Central Electricity Authority - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- PowerSource Philippines DevCo
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- LBH Netherlands Bv - Netherlands
- Energy Development Corp, Philippines
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Iligan Light & Power Inc, Philippines
- Parry Sugars Refinery, India
- Kalimantan Lumbung Energi - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Mines - Canada
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Edison Trading Spa - Italy
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Global Business Power Corporation, Philippines
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- TeaM Sual Corporation - Philippines
- Mercator Lines Limited - India
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Ambuja Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Indian Energy Exchange, India
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Maheswari Brothers Coal Limited - India
- Manunggal Multi Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- Ministry of Transport, Egypt
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Eastern Coal Council - USA
- Mjunction Services Limited - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Indogreen Group - Indonesia
- Global Green Power PLC Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Agrawal Coal Company - India
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Eastern Energy - Thailand
- International Coal Ventures Pvt Ltd - India
- ASAPP Information Group - India
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Semirara Mining and Power Corporation, Philippines
- New Zealand Coal & Carbon
- Altura Mining Limited, Indonesia
- The University of Queensland
- Renaissance Capital - South Africa
- GMR Energy Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Minerals Council of Australia
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Romanian Commodities Exchange
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Essar Steel Hazira Ltd - India
- Goldman Sachs - Singapore
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Australian Coal Association
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Indian Oil Corporation Limited
- Karbindo Abesyapradhi - Indoneisa
- Merrill Lynch Commodities Europe
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Australian Commodity Traders Exchange
- Commonwealth Bank - Australia
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Petron Corporation, Philippines
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Star Paper Mills Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Electricity Generating Authority of Thailand
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- SMG Consultants - Indonesia
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