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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, 26 July 22
WILL SOUTH AMERICA’S WINTER DEMAND DRAW LNG CARGOES AWAY FROM EUROPE? - ICIS
South America is now in the middle of its winter demand season. Last year the region increased its share of global LNG imports in winter, with Braz ...
Monday, 25 July 22
GLOBAL 2021 COAL-FIRED ELECTRICITY GENERATION SURGES TO RECORD HIGH - REUTERS
By contrast, mine output was still fractionally below the record set between 2012 and 2014 because older and less efficient coal generators have be ...
Saturday, 23 July 22
THE EU HAS BEEN REDUCING IMPORTS OF RUSSIAN REFINED OIL PRODUCTS SINCE MARCH - BANCHERO COSTA
The European Union could now ban the import and transit of fuel oil from Russia around six months ahead of the planned deadline, an EU official and ...
Saturday, 23 July 22
INDONESIA CONSIDERING SCRAPPING DOMESTIC SALES RULE FOR PALM OIL EXPORTS - REUTERS
Indonesia is considering removing a domestic sales requirement for palm oil exports because high inventories of the vegetable oil have been holding ...
Saturday, 23 July 22
STABILITY OF RUSSIAN GAS FLOWS REMAIN UNCERTAIN, DESPITE THE REOPENING OF NORD STREAM - WOOD MACKENZIE
Gazprom confirmed today that regular annual maintenance of Nord Stream is officially over and gas flows restarted at 63 million cubic metres per da ...
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- Global Coal Blending Company Limited - Australia
- The University of Queensland
- Mercator Lines Limited - India
- Bhushan Steel Limited - India
- Wilmar Investment Holdings
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Eastern Coal Council - USA
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Borneo Indobara - Indonesia
- Coalindo Energy - Indonesia
- Makarim & Taira - Indonesia
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Meenaskhi Energy Private Limited - India
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- ICICI Bank Limited - India
- GAC Shipping (India) Pvt Ltd
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- Commonwealth Bank - Australia
- Kideco Jaya Agung - Indonesia
- Bayan Resources Tbk. - Indonesia
- White Energy Company Limited
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- TeaM Sual Corporation - Philippines
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Riau Bara Harum - Indonesia
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Antam Resourcindo - Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Salva Resources Pvt Ltd - India
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Aditya Birla Group - India
- London Commodity Brokers - England
- Ministry of Mines - Canada
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Larsen & Toubro Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Transport, Egypt
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Bhoruka Overseas - Indonesia
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Toyota Tsusho Corporation, Japan
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Indian Oil Corporation Limited
- Romanian Commodities Exchange
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Power Finance Corporation Ltd., India
- IHS Mccloskey Coal Group - USA
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Economic Council, Georgia
- ASAPP Information Group - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Deloitte Consulting - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Orica Mining Services - Indonesia
- Madhucon Powers Ltd - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Marubeni Corporation - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Planning Commission, India
- The Treasury - Australian Government
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Lanco Infratech Ltd - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Australian Coal Association
- Indian Energy Exchange, India
- Carbofer General Trading SA - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Manunggal Multi Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Chamber of Mines of South Africa
- Dalmia Cement Bharat India
- PTC India Limited - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Finance - Indonesia
- Metalloyd Limited - United Kingdom
- Bharathi Cement Corporation - India
- Goldman Sachs - Singapore
- San Jose City I Power Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Wood Mackenzie - Singapore
- Baramulti Group, Indonesia
- Aboitiz Power Corporation - Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Holcim Trading Pte Ltd - Singapore
- Edison Trading Spa - Italy
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Energy Development Corp, Philippines
- Global Business Power Corporation, Philippines
- Thiess Contractors Indonesia
- Siam City Cement - Thailand
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Directorate Of Revenue Intelligence - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- Agrawal Coal Company - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Kepco SPC Power Corporation, Philippines
- Semirara Mining Corp, Philippines
- Pendopo Energi Batubara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
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