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