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