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