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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, 16 September 22
DRY BULK MARKET: EU’S BAN ON RUSSIAN COAL LIFTS DEMAND DESPITE ECONOMIC HEADWINDS - BIMCO
Highlights
– The Baltic Exchange Dry Index (BDI) peaked in late May and has since fallen sharply as lower Chinese demand and adverse glob ...
Friday, 16 September 22
BIMCO EMBARKS ON NEW STANDARD FOR “QUIET ENJOYMENT”
KNOWLEDGE TO ELEVATE
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing i ...
Friday, 16 September 22
INDIAN COAL PRODUCTION TO RISE 150 PER CENT IN 10 YEARS: CENTRE - EXPRESS NEWS SERVICE
The Union Ministry of Mines is expecting 150 per cent growth in coal production 10 years down the line as a result of coal reforms that had been us ...
Thursday, 15 September 22
MARKET INSIGHT - INTERMODAL
While the Organization of Petroleum Exporting Countries and its allies agreed on a 100,000 b/d output cut last week, oil flows are in the spotlight ...
Monday, 12 September 22
COAL PRICE HIKE REMAINS DIFFICULT FOR CIL: CHAIRMAN TELLS ANALYSTS - PTI
Coal India on Thursday informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with h ...
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- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Baramulti Group, Indonesia
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Siam City Cement PLC, Thailand
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Dalmia Cement Bharat India
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Mintek Dendrill Indonesia
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- The University of Queensland
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Planning Commission, India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Vizag Seaport Private Limited - India
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Kobexindo Tractors - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Bayan Resources Tbk. - Indonesia
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Central Java Power - Indonesia
- Bhushan Steel Limited - India
- Meralco Power Generation, Philippines
- Global Business Power Corporation, Philippines
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Orica Mining Services - Indonesia
- Bhatia International Limited - India
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Interocean Group of Companies - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Petrochimia International Co. Ltd.- Taiwan
- Indogreen Group - Indonesia
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Orica Australia Pty. Ltd.
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Sical Logistics Limited - India
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- San Jose City I Power Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Mjunction Services Limited - India
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Independent Power Producers Association of India
- Binh Thuan Hamico - Vietnam
- Karbindo Abesyapradhi - Indoneisa
- Economic Council, Georgia
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- White Energy Company Limited
- Eastern Energy - Thailand
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Barasentosa Lestari - Indonesia
- SMC Global Power, Philippines
- Anglo American - United Kingdom
- Singapore Mercantile Exchange
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- Videocon Industries ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Link Ltd, New Zealand
- Thai Mozambique Logistica
- Ceylon Electricity Board - Sri Lanka
- Malabar Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Commonwealth Bank - Australia
- Mercator Lines Limited - India
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Kepco SPC Power Corporation, Philippines
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Rio Tinto Coal - Australia
- Sinarmas Energy and Mining - Indonesia
- Kideco Jaya Agung - Indonesia
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Ambuja Cements Ltd - India
- Australian Coal Association
- CNBM International Corporation - China
- Gujarat Sidhee Cement - India
- Kumho Petrochemical, South Korea
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Latin American Coal - Colombia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Formosa Plastics Group - Taiwan
- Antam Resourcindo - Indonesia
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Grasim Industreis Ltd - India
- Coalindo Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- Therma Luzon, Inc, Philippines
- Borneo Indobara - Indonesia
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