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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 April 22
INDIA'S COAL IMPORTS ARE SHIFTING, THERMAL MORE THAN COKING - REUTERS
India’s coal imports are starting to reflect shifting world trade and pricing dynamics in the wake of Russia’s invasion of neighbouring ...
Monday, 18 April 22
GERMAN COAL IMPORTERS EXPECT A BRIEF SPIKE IN PRICES ON EU BAN - REUTERS
A European Union embargo on Russian coal imports will push up prices in the short term before alternative supplies become available to steady the c ...
Monday, 18 April 22
FINNISH 'LOOPHOLES' ALLOW IMPORTS OF RUSSIAN COAL AND OIL TO CONTINUE - EURONEWS
Activists in Finland are calling for the government to clamp down faster on state-owned companies that continue to import raw materials from Russia ...
Monday, 18 April 22
GOVT IN DISCUSSION WITH WORLD BANK ON FRAMEWORK FOR COAL MINE CLOSURE - BUSINESS STANDARD
The coal ministry is in discussions with the World Bank for collaboration on the mine closure framework, a government official said on Wednesday.
...
Monday, 18 April 22
DEMAND FOR THERMAL COAL TO RISE DUE TO INCREASE IN ELECTRICITY DEMAND: INDIAN COAL MINISTRY - PTI
Coal block allocatees have a golden opportunity to augment production as the demand for thermal coal will rise due to an increase in electricity de ...
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- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Karbindo Abesyapradhi - Indoneisa
- Simpson Spence & Young - Indonesia
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Uttam Galva Steels Limited - India
- India Bulls Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- London Commodity Brokers - England
- Savvy Resources Ltd - HongKong
- Edison Trading Spa - Italy
- Holcim Trading Pte Ltd - Singapore
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Central Electricity Authority - India
- Directorate General of MIneral and Coal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Cement Manufacturers Association - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- MS Steel International - UAE
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- Bhatia International Limited - India
- Deloitte Consulting - India
- Samtan Co., Ltd - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Global Business Power Corporation, Philippines
- Planning Commission, India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- White Energy Company Limited
- The Treasury - Australian Government
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Sidhee Cement - India
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- San Jose City I Power Corp, Philippines
- Coal and Oil Company - UAE
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
- Trasteel International SA, Italy
- Attock Cement Pakistan Limited
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SMG Consultants - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Essar Steel Hazira Ltd - India
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Borneo Indobara - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Bharathi Cement Corporation - India
- Karaikal Port Pvt Ltd - India
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Heidelberg Cement - Germany
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- GVK Power & Infra Limited - India
- Binh Thuan Hamico - Vietnam
- Electricity Generating Authority of Thailand
- Bukit Makmur.PT - Indonesia
- Madhucon Powers Ltd - India
- European Bulk Services B.V. - Netherlands
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Wood Mackenzie - Singapore
- Jindal Steel & Power Ltd - India
- ICICI Bank Limited - India
- Gujarat Electricity Regulatory Commission - India
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- CNBM International Corporation - China
- PTC India Limited - India
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Baramulti Group, Indonesia
- OPG Power Generation Pvt Ltd - India
- Mercator Lines Limited - India
- Larsen & Toubro Limited - India
- Straits Asia Resources Limited - Singapore
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Lanco Infratech Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Kohat Cement Company Ltd. - Pakistan
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Standard Chartered Bank - UAE
- Meenaskhi Energy Private Limited - India
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- Energy Development Corp, Philippines
- Bangladesh Power Developement Board
- Australian Commodity Traders Exchange
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Billiton Holdings Pty Ltd - Australia
- Sindya Power Generating Company Private Ltd
- Mjunction Services Limited - India
- Grasim Industreis Ltd - India
- Mintek Dendrill Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- The State Trading Corporation of India Ltd
- Thai Mozambique Logistica
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- ASAPP Information Group - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Coalindo Energy - Indonesia
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- Globalindo Alam Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Georgia Ports Authority, United States
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- CIMB Investment Bank - Malaysia
- Africa Commodities Group - South Africa
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