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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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Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercializ ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
Sunday, 21 August 22
COAL-RICH POLAND FACES WINTER OF ENERGY DISCONTENT - DW
Poland uses 10 million tons of coal a year to heat households — a whopping 87% of all coal consumed in EU homes in 2019, according to the War ...
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- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- CNBM International Corporation - China
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jaiprakash Power Ventures ltd
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Timah Investasi Mineral - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Oldendorff Carriers - Singapore
- Thai Mozambique Logistica
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Electricity Authority, New Zealand
- Globalindo Alam Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indonesian Coal Mining Association
- Bulk Trading Sa - Switzerland
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Goldman Sachs - Singapore
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Australian Coal Association
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Barasentosa Lestari - Indonesia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- White Energy Company Limited
- Leighton Contractors Pty Ltd - Australia
- Edison Trading Spa - Italy
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Banpu Public Company Limited - Thailand
- Makarim & Taira - Indonesia
- Ministry of Transport, Egypt
- PowerSource Philippines DevCo
- Straits Asia Resources Limited - Singapore
- Salva Resources Pvt Ltd - India
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Minerals Council of Australia
- PTC India Limited - India
- Lanco Infratech Ltd - India
- SN Aboitiz Power Inc, Philippines
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Global Coal Blending Company Limited - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Eastern Coal Council - USA
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Directorate Of Revenue Intelligence - India
- Bangladesh Power Developement Board
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Cigading International Bulk Terminal - Indonesia
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- Bhoruka Overseas - Indonesia
- LBH Netherlands Bv - Netherlands
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Meralco Power Generation, Philippines
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- MS Steel International - UAE
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Antam Resourcindo - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Mines - Canada
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Mintek Dendrill Indonesia
- Parry Sugars Refinery, India
- Savvy Resources Ltd - HongKong
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Africa Commodities Group - South Africa
- Indian Energy Exchange, India
- Videocon Industries ltd - India
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- IEA Clean Coal Centre - UK
- Orica Australia Pty. Ltd.
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- The Treasury - Australian Government
- Pipit Mutiara Jaya. PT, Indonesia
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- Energy Link Ltd, New Zealand
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Heidelberg Cement - Germany
- Manunggal Multi Energi - Indonesia
- Xindia Steels Limited - India
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Neyveli Lignite Corporation Ltd, - India
- Chettinad Cement Corporation Ltd - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Madhucon Powers Ltd - India
- Economic Council, Georgia
- Latin American Coal - Colombia
- Energy Development Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Finance - Indonesia
- South Luzon Thermal Energy Corporation
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Bukit Makmur.PT - Indonesia
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Carbofer General Trading SA - India
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Wilmar Investment Holdings
- Mercator Lines Limited - India
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- GVK Power & Infra Limited - India
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Cement Manufacturers Association - India
- India Bulls Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- Georgia Ports Authority, United States
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