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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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Wednesday, 17 August 22
PAXOCEAN, HONG LAM MARINE AND BUREAU VERITAS SIGN MOU TO DEVELOP AMMONIA BUNKER VESSEL DESIGN - BUREAU VERITAS
PaxOcean Engineering Pte. Ltd. has signed a Memorandum of Understanding (MOU) with Singapore-based bunker vessel operator Hong Lam Marine and class ...
Wednesday, 17 August 22
GOODFUELSS ASIA-PACIFIC BRANCH KICKSTARTS SUSTAINABLE BIOFUEL DELIVERIES WITH NYK AS FIRST CLIENT - GOOD FUELS
GoodFuels, the leading biofuels pioneer for the global transport industry, has today announced that it has successfully supplied sustainable marine ...
Tuesday, 16 August 22
EU BAN ON RUSSIAN COAL IMPORTS COMES INTO FORCE - DEUTSCHE WELLE
The European Union banned Russian coal imports in response to the invasion of Ukraine as part of sanctions in April. Since then, it’s been sc ...
Thursday, 11 August 22
MARKET INSIGHT - INTERMODAL
On July 22nd, Ukraine signed a deal with Russia to release 22mn tons of grain from Ukraine’s 3 major ports (Yuzhny, Chornomorsk, Odesa). Such ...
Wednesday, 10 August 22
THE FUTURE OF COAL: EIGHT KEY THEMES FROM THE GLOBAL COAL FORUM - WOOD MACKENZIE
Coal investors face a multi-layered and unavoidable challenge: markets distorted by war, trade constraints and the existential threat of the energy ...
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- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- GN Power Mariveles Coal Plant, Philippines
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Larsen & Toubro Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- PowerSource Philippines DevCo
- Sical Logistics Limited - India
- Borneo Indobara - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Power Finance Corporation Ltd., India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Thiess Contractors Indonesia
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Savvy Resources Ltd - HongKong
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Formosa Plastics Group - Taiwan
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Rio Tinto Coal - Australia
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Eastern Energy - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Deloitte Consulting - India
- Globalindo Alam Lestari - Indonesia
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Sakthi Sugars Limited - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Economic Council, Georgia
- Uttam Galva Steels Limited - India
- Cement Manufacturers Association - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Heidelberg Cement - Germany
- Australian Coal Association
- Mercuria Energy - Indonesia
- Australian Commodity Traders Exchange
- Indo Tambangraya Megah - Indonesia
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Kartika Selabumi Mining - Indonesia
- New Zealand Coal & Carbon
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- Star Paper Mills Limited - India
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Iligan Light & Power Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Interocean Group of Companies - India
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- Independent Power Producers Association of India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Vedanta Resources Plc - India
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Intertek Mineral Services - Indonesia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Mintek Dendrill Indonesia
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Latin American Coal - Colombia
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Tamil Nadu electricity Board
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Antam Resourcindo - Indonesia
- Indian Oil Corporation Limited
- Indika Energy - Indonesia
- Electricity Authority, New Zealand
- International Coal Ventures Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Siam City Cement - Thailand
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bhushan Steel Limited - India
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Marubeni Corporation - India
- Posco Energy - South Korea
- Makarim & Taira - Indonesia
- Renaissance Capital - South Africa
- Bukit Baiduri Energy - Indonesia
- The Treasury - Australian Government
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Meralco Power Generation, Philippines
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Indogreen Group - Indonesia
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining Corp, Philippines
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- CNBM International Corporation - China
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Goldman Sachs - Singapore
- Planning Commission, India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
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