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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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Monday, 19 September 22
BUMA AUSTRALIA AWARDED A$400 MILLION CONTRACT EXTENSION BY BMA FOR GOONYELLA PROJECT
Press Release – PT Delta Dunia Makmur Tbk. (the "Company") announced that its subsidiary, PT Bukit Makmur Mandiri Utama ("BUMA ...
Saturday, 17 September 22
CHINA WARNS COAL COMPANIES AGAINST DUAL CONTRACTS, KEEP PRICES STABLE - REUTERS
China’s state economic planner warned coal companies operating at ports in the Bohai Bay region to comply with their long-term contracts to k ...
Saturday, 17 September 22
IS A GLOBAL RECESSION IMMINENT? - WORLD BANK
Since the beginning of the year, a rapid deterioration of growth prospects coupled with rising inflation and tightening financing conditions, has i ...
Saturday, 17 September 22
FITCH RATINGS REVISES GLOBAL METALS & MINING PRICE ASSUMPTIONS
Fitch Ratings has revised its metals and mining price assumptions reflecting evolving economic growth expectations and demand and supply dynamics.
...
Friday, 16 September 22
WHEN IS A VESSEL'S INCOME EARNING CAPACITY AT RISK? 'CONTROLLED INCOME CAN BE A KEY OF SUCCESS' - MARASCO MARINE
Managing marine risks is not an easy task, which requires special knowledge and expertise on the subject per se. Customarily, big ship management c ...
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- Thiess Contractors Indonesia
- Baramulti Group, Indonesia
- Bukit Baiduri Energy - Indonesia
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PowerSource Philippines DevCo
- Indika Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Edison Trading Spa - Italy
- MS Steel International - UAE
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Minerals Council of Australia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Africa Commodities Group - South Africa
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Price Waterhouse Coopers - Russia
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- White Energy Company Limited
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- GVK Power & Infra Limited - India
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Metalloyd Limited - United Kingdom
- Indian Oil Corporation Limited
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- Sical Logistics Limited - India
- International Coal Ventures Pvt Ltd - India
- Eastern Energy - Thailand
- Coal and Oil Company - UAE
- Sindya Power Generating Company Private Ltd
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Coastal Gujarat Power Limited - India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Global Green Power PLC Corporation, Philippines
- Videocon Industries ltd - India
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Bhoruka Overseas - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Borneo Indobara - Indonesia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Sakthi Sugars Limited - India
- Oldendorff Carriers - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Electricity Generating Authority of Thailand
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Medco Energi Mining Internasional
- Independent Power Producers Association of India
- Posco Energy - South Korea
- The University of Queensland
- Wilmar Investment Holdings
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Savvy Resources Ltd - HongKong
- Economic Council, Georgia
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- OPG Power Generation Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Kumho Petrochemical, South Korea
- Neyveli Lignite Corporation Ltd, - India
- Star Paper Mills Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- Kobexindo Tractors - Indoneisa
- Planning Commission, India
- London Commodity Brokers - England
- Lanco Infratech Ltd - India
- Maheswari Brothers Coal Limited - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Directorate Of Revenue Intelligence - India
- Malabar Cements Ltd - India
- Grasim Industreis Ltd - India
- Wood Mackenzie - Singapore
- Kideco Jaya Agung - Indonesia
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Australian Coal Association
- Chamber of Mines of South Africa
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Bukit Makmur.PT - Indonesia
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Intertek Mineral Services - Indonesia
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Dalmia Cement Bharat India
- Binh Thuan Hamico - Vietnam
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Ind-Barath Power Infra Limited - India
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- GMR Energy Limited - India
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- LBH Netherlands Bv - Netherlands
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Singapore Mercantile Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Xindia Steels Limited - India
- Manunggal Multi Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Madhucon Powers Ltd - India
- Renaissance Capital - South Africa
- Kartika Selabumi Mining - Indonesia
- McConnell Dowell - Australia
- Ministry of Transport, Egypt
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Deloitte Consulting - India
- Billiton Holdings Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- Interocean Group of Companies - India
- SMC Global Power, Philippines
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