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