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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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Friday, 22 July 22
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- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Kaltim Prima Coal - Indonesia
- European Bulk Services B.V. - Netherlands
- SMG Consultants - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Gujarat Sidhee Cement - India
- Electricity Authority, New Zealand
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Central Electricity Authority - India
- Toyota Tsusho Corporation, Japan
- Power Finance Corporation Ltd., India
- GN Power Mariveles Coal Plant, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- London Commodity Brokers - England
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Georgia Ports Authority, United States
- Gujarat Mineral Development Corp Ltd - India
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kideco Jaya Agung - Indonesia
- OPG Power Generation Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Bulk Trading Sa - Switzerland
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Orica Australia Pty. Ltd.
- Wilmar Investment Holdings
- CNBM International Corporation - China
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Marubeni Corporation - India
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Videocon Industries ltd - India
- Energy Link Ltd, New Zealand
- Tata Chemicals Ltd - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- Jaiprakash Power Ventures ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Ambuja Cements Ltd - India
- Romanian Commodities Exchange
- Ind-Barath Power Infra Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- New Zealand Coal & Carbon
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- Anglo American - United Kingdom
- Independent Power Producers Association of India
- Cement Manufacturers Association - India
- AsiaOL BioFuels Corp., Philippines
- Sakthi Sugars Limited - India
- Coastal Gujarat Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Larsen & Toubro Limited - India
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Thiess Contractors Indonesia
- Planning Commission, India
- GAC Shipping (India) Pvt Ltd
- Indonesian Coal Mining Association
- Vedanta Resources Plc - India
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Banpu Public Company Limited - Thailand
- Parliament of New Zealand
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Attock Cement Pakistan Limited
- India Bulls Power Limited - India
- Bhoruka Overseas - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Minerals Council of Australia
- Indian Energy Exchange, India
- Karbindo Abesyapradhi - Indoneisa
- Star Paper Mills Limited - India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- Global Green Power PLC Corporation, Philippines
- Trasteel International SA, Italy
- Directorate General of MIneral and Coal - Indonesia
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Central Java Power - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Coal Association
- Mercuria Energy - Indonesia
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Bayan Resources Tbk. - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Vizag Seaport Private Limited - India
- San Jose City I Power Corp, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Kumho Petrochemical, South Korea
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Tamil Nadu electricity Board
- Petrochimia International Co. Ltd.- Taiwan
- Sical Logistics Limited - India
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- Riau Bara Harum - Indonesia
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- ASAPP Information Group - India
- Ministry of Finance - Indonesia
- Ministry of Mines - Canada
- Carbofer General Trading SA - India
- McConnell Dowell - Australia
- Orica Mining Services - Indonesia
- Grasim Industreis Ltd - India
- Bharathi Cement Corporation - India
- Kartika Selabumi Mining - Indonesia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Aditya Birla Group - India
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