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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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Wednesday, 06 July 22
MARKET INSIGHT - INTERMODAL
Following the 3rd Decarbonizing Shipping Forum, held in Hamburg on June 2022, there has been a meaningful resurgence of discussions within the ship ...
Tuesday, 05 July 22
WHY ARE VLSFO PRICES SO HIGH, ESPECIALLY IN SINGAPORE? - STEVE CHRISTY, INTEGR8 FUELS
Tightness in products still trumps talks of recession
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Tuesday, 05 July 22
ADANI ENTERPRISES LOWEST BIDDER IN COAL INDIA'S IMPORT TENDER: REPORT - BUSINESS STANDARD
Coal India Ltd floated its first import tender on behalf of power companies, where Adani Enterprises Ltd came out to be the lowest bidder, a report ...
Tuesday, 05 July 22
CHINA POLICY KEY FOR IRON ORE OUTLOOK - ING
China’s covid lockdowns and recessionary risks hit iron ore
Iron ore prices have fallen significantly from their year-to-date high of US$ ...
Monday, 04 July 22
INDONESIAN COAL PRICE REFERENCE SLIGHTLY DOWN IN JULY
COALspot.com: Indonesian Coal Price Reference for July delivery drops 1.52 per cent month on month.
The Indonesian Coal Price Refere ...
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- Gujarat Mineral Development Corp Ltd - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Planning Commission, India
- Agrawal Coal Company - India
- The University of Queensland
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bangladesh Power Developement Board
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Eastern Energy - Thailand
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- European Bulk Services B.V. - Netherlands
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Toyota Tsusho Corporation, Japan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vizag Seaport Private Limited - India
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- White Energy Company Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- LBH Netherlands Bv - Netherlands
- Anglo American - United Kingdom
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- Meenaskhi Energy Private Limited - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Edison Trading Spa - Italy
- Xindia Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Straits Asia Resources Limited - Singapore
- Ministry of Finance - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- IHS Mccloskey Coal Group - USA
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- International Coal Ventures Pvt Ltd - India
- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Uttam Galva Steels Limited - India
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Georgia Ports Authority, United States
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- The Treasury - Australian Government
- Australian Coal Association
- Karbindo Abesyapradhi - Indoneisa
- MS Steel International - UAE
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Kohat Cement Company Ltd. - Pakistan
- Electricity Authority, New Zealand
- Siam City Cement PLC, Thailand
- Maheswari Brothers Coal Limited - India
- Lanco Infratech Ltd - India
- Iligan Light & Power Inc, Philippines
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Siam City Cement - Thailand
- PTC India Limited - India
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Deloitte Consulting - India
- Bhoruka Overseas - Indonesia
- Indika Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Vijayanagar Sugar Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
- Semirara Mining Corp, Philippines
- Merrill Lynch Commodities Europe
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Mines - Canada
- Bhatia International Limited - India
- CNBM International Corporation - China
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Independent Power Producers Association of India
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- PNOC Exploration Corporation - Philippines
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Goldman Sachs - Singapore
- Petron Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Star Paper Mills Limited - India
- Samtan Co., Ltd - South Korea
- CIMB Investment Bank - Malaysia
- Tata Chemicals Ltd - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Coal and Oil Company - UAE
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- TeaM Sual Corporation - Philippines
- Global Business Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
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