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