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