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