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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, 02 September 22
ABM INVESTAMA BUYS 30% GEMS SHARES FOR US$ 420 MILLION
PT ABM Investama Tbk through its indirect subsidiary, bought a 30% stake in the PT Golden Energy Mines Tbk for US$ 420 million or around Rp 6.2 tri ...
Wednesday, 31 August 22
MARKET INSIGHT - INTERMODAL
Scorching temperatures and extremely dry conditions during the Northern hemisphere summer have been drying crops. Yield prospects have subsided in ...
Tuesday, 23 August 22
HIGH COAL PRICES COULD BOOST INDONESIA'S ENERGY TRANSITION - IEEFA
Global coal prices have reached an all-time high as countries stop purchasing Russian coal amidst the Russia-Ukraine conflict. Indonesian coal comp ...
Tuesday, 23 August 22
A COMBINED US$6.8-BILLION CASH BALANCE OF INDONESIAN COAL COMPANIES COULD PROVIDE FOR TIMELY INVESTMENTS IN GREEN TRANSITION - IEEFA
A combined US$6.8-billion cash balance of Indonesian coal companies could provide for timely investments in green transition
The opp ...
Tuesday, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
After more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk ...
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- Directorate Of Revenue Intelligence - India
- Madhucon Powers Ltd - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Antam Resourcindo - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- The University of Queensland
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Iligan Light & Power Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- Sinarmas Energy and Mining - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Altura Mining Limited, Indonesia
- Tamil Nadu electricity Board
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Chettinad Cement Corporation Ltd - India
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Parry Sugars Refinery, India
- McConnell Dowell - Australia
- Rio Tinto Coal - Australia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Gujarat Sidhee Cement - India
- Star Paper Mills Limited - India
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- SMG Consultants - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Australian Coal Association
- Tata Chemicals Ltd - India
- Aboitiz Power Corporation - Philippines
- Vedanta Resources Plc - India
- Latin American Coal - Colombia
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Kalimantan Lumbung Energi - Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Indonesian Coal Mining Association
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Vizag Seaport Private Limited - India
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Indika Energy - Indonesia
- Bhushan Steel Limited - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- TeaM Sual Corporation - Philippines
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Mining Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Toyota Tsusho Corporation, Japan
- Mintek Dendrill Indonesia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- Wilmar Investment Holdings
- PTC India Limited - India
- Renaissance Capital - South Africa
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- European Bulk Services B.V. - Netherlands
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- Intertek Mineral Services - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Kaltim Prima Coal - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Anglo American - United Kingdom
- Metalloyd Limited - United Kingdom
- Cigading International Bulk Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Parliament of New Zealand
- Cement Manufacturers Association - India
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Karbindo Abesyapradhi - Indoneisa
- Independent Power Producers Association of India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Marubeni Corporation - India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Indian Oil Corporation Limited
- SN Aboitiz Power Inc, Philippines
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- CIMB Investment Bank - Malaysia
- Deloitte Consulting - India
- IEA Clean Coal Centre - UK
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Port Waratah Coal Services - Australia
- Aditya Birla Group - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Jaiprakash Power Ventures ltd
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Kobexindo Tractors - Indoneisa
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Sree Jayajothi Cements Limited - India
- PNOC Exploration Corporation - Philippines
- Commonwealth Bank - Australia
- Bangladesh Power Developement Board
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Global Business Power Corporation, Philippines
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- CNBM International Corporation - China
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- London Commodity Brokers - England
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Simpson Spence & Young - Indonesia
- Samtan Co., Ltd - South Korea
- The State Trading Corporation of India Ltd
- White Energy Company Limited
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
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