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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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Monday, 21 March 22
A FORCE MAJEURE TO BE RECKONED WITH - BALTIC EXCHANGE
Sanctions cause payment confusion
This dispute in MUR Shipping BV v. RTI Ltd [2022] EWHC 467 (Comm) related to an owner’s purported exercis ...
Monday, 21 March 22
CHINA'S COAL OUTPUT UP 10.3 PCT IN FIRST TWO MONTHS - XINHUA
China’s raw coal output posted fast growth in the first two months of 2022, while coal imports continued to shrink, official data showed.
...
Tuesday, 15 March 22
INDUSTRY VETERANS & ORGANIZATIONS HONOURED WITH THE PRESTIGIOUS SHIPTEK INTERNATIONAL AWARDS 2022
Press Release: The 15th edition of the prestigious ShipTek International Conference & Awards 2022 concluded successfully from March 7th - 8th 2 ...
Tuesday, 15 March 22
CHINA'S COAL OUTPUT GROWS TO STABILIZE MARKET SUPPLY - XINHUA
China’s coal market has seen growth in output since late February amid the country’s efforts to stabilize production and ensure supply, ...
Tuesday, 08 March 22
RUSSIA-UKRAINE CONFLICT ADDS IMPETUS TO ASIA'S ENERGY TRANSITION - IEEFA
Clean energy alternatives are a crucial hedge against future disruptions in global commodity markets
Russia’s invasion of Ukra ...
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- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Bhoruka Overseas - Indonesia
- Commonwealth Bank - Australia
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Central Electricity Authority - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Semirara Mining and Power Corporation, Philippines
- PTC India Limited - India
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- The Treasury - Australian Government
- Gujarat Mineral Development Corp Ltd - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- Directorate Of Revenue Intelligence - India
- Energy Link Ltd, New Zealand
- Thiess Contractors Indonesia
- Karaikal Port Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- The University of Queensland
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- India Bulls Power Limited - India
- Anglo American - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Mercator Lines Limited - India
- Siam City Cement PLC, Thailand
- Eastern Energy - Thailand
- Merrill Lynch Commodities Europe
- Global Coal Blending Company Limited - Australia
- Coalindo Energy - Indonesia
- Bharathi Cement Corporation - India
- Global Business Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- Ind-Barath Power Infra Limited - India
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- PetroVietnam Power Coal Import and Supply Company
- GMR Energy Limited - India
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Planning Commission, India
- CNBM International Corporation - China
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
- Parliament of New Zealand
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Posco Energy - South Korea
- ASAPP Information Group - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Kapuas Tunggal Persada - Indonesia
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Heidelberg Cement - Germany
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Xindia Steels Limited - India
- Indo Tambangraya Megah - Indonesia
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Siam City Cement - Thailand
- Gujarat Sidhee Cement - India
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Interocean Group of Companies - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Directorate General of MIneral and Coal - Indonesia
- Chamber of Mines of South Africa
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Kartika Selabumi Mining - Indonesia
- Vedanta Resources Plc - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- ICICI Bank Limited - India
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- Coal and Oil Company - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Indogreen Group - Indonesia
- Indonesian Coal Mining Association
- Ceylon Electricity Board - Sri Lanka
- Sarangani Energy Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Iligan Light & Power Inc, Philippines
- Semirara Mining Corp, Philippines
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Sojitz Corporation - Japan
- Australian Coal Association
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Bukit Baiduri Energy - Indonesia
- Kumho Petrochemical, South Korea
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Deloitte Consulting - India
- Banpu Public Company Limited - Thailand
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
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