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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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Sunday, 03 July 22
CHINESE VICE PREMIER STRESSES CLEAN, EFFICIENT USE OF COAL - XINHUA
Chinese Vice Premier Han Zheng has stressed efforts to promote the clean and efficient use of coal, and pursue green, low-carbon and high-quality d ...
Sunday, 03 July 22
SOVEREIGN SECTOR OUTLOOK REVISED TO NEUTRAL ON UKRAINE WAR IMPACT - FITCH RATINGS
The deterioration in global sovereign credit conditions this year relative to our expectations at end-2021 has caused Fitch Ratings to change its g ...
Saturday, 02 July 22
GLOBAL SEABORNE COAL EXPORTS IN 2021 INCREASED BY 4.4% Y-O-Y TO 1147 MLN TONNES - BANCHERO COSTA
In the full 12 months of 2021, global seaborne coal exports increased by +4.4% y-o-y to 1147 mln tonnes, from 1099 mln tonnes in 2020, according to ...
Friday, 01 July 22
INDIA'S TOP CEMENT MAKER PAYING FOR RUSSIAN COAL IN CHINESE YUAN - REUTERS
India’s biggest cement producer, UltraTech Cement ULTC.NS, is importing a cargo of Russian coal and paying using Chinese yuan, according to a ...
Thursday, 30 June 22
FINANCIAL GAINS SUPPORT COAL TRANSITION - BALTIC EXCHANGE
Support for the shift away from coal dependency continues to mount, with the International Monetary Fund (IMF) calculating that the move would gene ...
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- Kalimantan Lumbung Energi - Indonesia
- London Commodity Brokers - England
- Kohat Cement Company Ltd. - Pakistan
- Bayan Resources Tbk. - Indonesia
- Planning Commission, India
- Thiess Contractors Indonesia
- Barasentosa Lestari - Indonesia
- Salva Resources Pvt Ltd - India
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- IHS Mccloskey Coal Group - USA
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indo Tambangraya Megah - Indonesia
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Posco Energy - South Korea
- Karaikal Port Pvt Ltd - India
- Bangladesh Power Developement Board
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Rio Tinto Coal - Australia
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Meralco Power Generation, Philippines
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Coastal Gujarat Power Limited - India
- Semirara Mining Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- Bulk Trading Sa - Switzerland
- Altura Mining Limited, Indonesia
- Indonesian Coal Mining Association
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Bank of Tokyo Mitsubishi UFJ Ltd
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Vedanta Resources Plc - India
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Timah Investasi Mineral - Indoneisa
- Thai Mozambique Logistica
- Maheswari Brothers Coal Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Tamil Nadu electricity Board
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Iligan Light & Power Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Sakthi Sugars Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Pendopo Energi Batubara - Indonesia
- Electricity Generating Authority of Thailand
- GN Power Mariveles Coal Plant, Philippines
- Star Paper Mills Limited - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Baramulti Group, Indonesia
- SMG Consultants - Indonesia
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Pipit Mutiara Jaya. PT, Indonesia
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Standard Chartered Bank - UAE
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Savvy Resources Ltd - HongKong
- Asmin Koalindo Tuhup - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Baiduri Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- The University of Queensland
- Kartika Selabumi Mining - Indonesia
- Marubeni Corporation - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Eastern Coal Council - USA
- Commonwealth Bank - Australia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Economic Council, Georgia
- CNBM International Corporation - China
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Romanian Commodities Exchange
- Kapuas Tunggal Persada - Indonesia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- Bharathi Cement Corporation - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- The State Trading Corporation of India Ltd
- Meenaskhi Energy Private Limited - India
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Finance - Indonesia
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Goldman Sachs - Singapore
- Edison Trading Spa - Italy
- Ministry of Transport, Egypt
- LBH Netherlands Bv - Netherlands
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
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