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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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Saturday, 06 August 22
SUMITOMO Q1 PROFIT RISES 45% ON STRONGER PRICES OF COAL, NICKEL - REUTERS
Japanese trading house Sumitomo Corp 8053.T said on Wednesday its net profit for the April-June quarter rose 45% to a record thanks to higher price ...
Saturday, 06 August 22
GERMANY'S ENERGY U-TURN: COAL INSTEAD OF GAS - DEUTSCHE WELLE
Berlin has realized it will never again import as much energy from Russia as before the Ukraine war. So the challenge is to wean Germany off its de ...
Saturday, 30 July 22
NUANCES OF FORCE MAJEURE CLAUSE - BALTIC EXCHANGE
Knowledge to Elevate
In NKD Maritime Limited v. Bart Maritime (No 2) Inc (Shagang Giant) [2022] EWHC 1615 (Comm), Bart Maritime (No 2) Inc (th ...
Saturday, 30 July 22
AEMO URGES QUICKER SHIFT TO RENEWABLES AMID COAL FAILURES AND SOARING FOSSIL FUEL COSTS
The Australian Energy Market Operator has called for an accelerated shift to wind and solar, backed up by batteries and other storage, as a devasta ...
Friday, 29 July 22
GLENCORE TO SUPPLY COAL TO NIPPON STEEL AT $375 PER TON - BLOOMBERG
Glencore Plc, agreed to supply coal to Nippon Steel at one of the highest prices ever paid by the Japan Bloomberg reported on July 27.
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- Malabar Cements Ltd - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- LBH Netherlands Bv - Netherlands
- Grasim Industreis Ltd - India
- Altura Mining Limited, Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- Rio Tinto Coal - Australia
- Tata Chemicals Ltd - India
- European Bulk Services B.V. - Netherlands
- CIMB Investment Bank - Malaysia
- PTC India Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Merrill Lynch Commodities Europe
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- VISA Power Limited - India
- Wilmar Investment Holdings
- Karbindo Abesyapradhi - Indoneisa
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Madhucon Powers Ltd - India
- Aditya Birla Group - India
- Deloitte Consulting - India
- Interocean Group of Companies - India
- Coalindo Energy - Indonesia
- ICICI Bank Limited - India
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- The Treasury - Australian Government
- Vizag Seaport Private Limited - India
- CNBM International Corporation - China
- Formosa Plastics Group - Taiwan
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Essar Steel Hazira Ltd - India
- GMR Energy Limited - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Holcim Trading Pte Ltd - Singapore
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Kaltim Prima Coal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- TeaM Sual Corporation - Philippines
- Larsen & Toubro Limited - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Central Java Power - Indonesia
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- The State Trading Corporation of India Ltd
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Ministry of Transport, Egypt
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Latin American Coal - Colombia
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- White Energy Company Limited
- Coal and Oil Company - UAE
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Meenaskhi Energy Private Limited - India
- IHS Mccloskey Coal Group - USA
- Simpson Spence & Young - Indonesia
- Ind-Barath Power Infra Limited - India
- Parry Sugars Refinery, India
- Bukit Baiduri Energy - Indonesia
- SMC Global Power, Philippines
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Kohat Cement Company Ltd. - Pakistan
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Savvy Resources Ltd - HongKong
- Ceylon Electricity Board - Sri Lanka
- The University of Queensland
- PowerSource Philippines DevCo
- Energy Development Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Siam City Cement - Thailand
- Rashtriya Ispat Nigam Limited - India
- Sakthi Sugars Limited - India
- Xindia Steels Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Uttam Galva Steels Limited - India
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- MS Steel International - UAE
- SMG Consultants - Indonesia
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Jindal Steel & Power Ltd - India
- International Coal Ventures Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- Kepco SPC Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- GAC Shipping (India) Pvt Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- Baramulti Group, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Krishnapatnam Port Company Ltd. - India
- Kapuas Tunggal Persada - Indonesia
- Commonwealth Bank - Australia
- Sical Logistics Limited - India
- Central Electricity Authority - India
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Kalimantan Lumbung Energi - Indonesia
- Bhoruka Overseas - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Eastern Coal Council - USA
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Indika Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Global Business Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- India Bulls Power Limited - India
- Attock Cement Pakistan Limited
- Directorate General of MIneral and Coal - Indonesia
- Australian Coal Association
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
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