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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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Thursday, 30 June 22
WHY ARE LNG SHIPPING STOCKS RESILIENT? - DREWRY
LNG shipping stocks are proving resilient despite uncertainties about growth in global GDP, high inflation and the ongoing geopolitical crisis caus ...
Thursday, 30 June 22
SPOT AUSTRALIAN THERMAL COAL HAS SURGED, BUT CONTRACT PRICE IS KEY - REUTERS
The spot price of Australian thermal coal is higher than that of coking coal, an unprecedented situation that highlights just how the global market ...
Thursday, 30 June 22
SHANXI PROVINCE RAISES ANNUAL COAL OUTPUT TO 1.3 BILLION TONS TO ENSURE CHINA’S ENERGY SUPPLY - GLOBAL TIMES
North China’s Shanxi Province, a major coal-producing region, recently announced a move to increase its annual coal production output by 107 ...
Thursday, 30 June 22
DIVERGENCE BETWEEN HIGH- AND LOW-GRADE THERMAL COAL PRICES IN APAC TO NARROW - FITCH RATINGS
Prices between high- and low-grade thermal coal in Asia-Pacific (APAC) have diverged since late March 2022, but Fitch Ratings expects the gap to na ...
Thursday, 30 June 22
INVESTMENT IN GLOBAL COAL SUPPLY CHAIN TO HIT $115 BN IN 2022, LED BY CHINA AND INDIA - BUSINESS LINE
At over $80 billion, China and India are anticipated to make up the bulk of global coal investment in 2022, says IEA.
The investment ...
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- Central Electricity Authority - India
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Larsen & Toubro Limited - India
- Posco Energy - South Korea
- Neyveli Lignite Corporation Ltd, - India
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Oil Corporation Limited
- GAC Shipping (India) Pvt Ltd
- Agrawal Coal Company - India
- Kumho Petrochemical, South Korea
- Kideco Jaya Agung - Indonesia
- Port Waratah Coal Services - Australia
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Semirara Mining Corp, Philippines
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- AsiaOL BioFuels Corp., Philippines
- Directorate Of Revenue Intelligence - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Heidelberg Cement - Germany
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Coal and Oil Company - UAE
- Bukit Baiduri Energy - Indonesia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- PowerSource Philippines DevCo
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Latin American Coal - Colombia
- Malabar Cements Ltd - India
- Bukit Makmur.PT - Indonesia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- IHS Mccloskey Coal Group - USA
- Alfred C Toepfer International GmbH - Germany
- Mercuria Energy - Indonesia
- Jaiprakash Power Ventures ltd
- PetroVietnam Power Coal Import and Supply Company
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Australian Coal Association
- Semirara Mining and Power Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Rio Tinto Coal - Australia
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Grasim Industreis Ltd - India
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Star Paper Mills Limited - India
- Thai Mozambique Logistica
- Vijayanagar Sugar Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- The University of Queensland
- Makarim & Taira - Indonesia
- TeaM Sual Corporation - Philippines
- Indonesian Coal Mining Association
- GN Power Mariveles Coal Plant, Philippines
- White Energy Company Limited
- SMC Global Power, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- Eastern Coal Council - USA
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Commonwealth Bank - Australia
- Savvy Resources Ltd - HongKong
- IEA Clean Coal Centre - UK
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Offshore Bulk Terminal Pte Ltd, Singapore
- VISA Power Limited - India
- GMR Energy Limited - India
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- LBH Netherlands Bv - Netherlands
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- Africa Commodities Group - South Africa
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Planning Commission, India
- Dalmia Cement Bharat India
- Deloitte Consulting - India
- Vizag Seaport Private Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Ministry of Finance - Indonesia
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Global Coal Blending Company Limited - Australia
- Toyota Tsusho Corporation, Japan
- Bukit Asam (Persero) Tbk - Indonesia
- Georgia Ports Authority, United States
- Gujarat Sidhee Cement - India
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- McConnell Dowell - Australia
- Straits Asia Resources Limited - Singapore
- India Bulls Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Renaissance Capital - South Africa
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- ASAPP Information Group - India
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Minerals Council of Australia
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