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