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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, 08 March 22
THE HIGH COST OF INDONESIA’S DOWNSTREAM COAL PROJECTS IS UNDERESTIMATED - IEEFA
Three Indonesian ministries have come up with a DME purchase price of US$378/tonne fixed for 20 years compared to IEEFA’s US$601/tonne estima ...
Wednesday, 02 March 22
SHIPPING MARKET INSIGHT - INTERMODAL
The escalating confrontation between Russia and Ukraine has the potential to disrupt global order and set the world back a few decades. While count ...
Tuesday, 22 February 22
THE DRY BULK MARKET HAS MOVED ON A POSITIVE TRACK - ALLIED
The dry bulk market has moved on a positive track as of the past couple of weeks or so. Following the typical softening in freight conditions durin ...
Tuesday, 22 February 22
CHINA'S DAILY OUTPUT OF COAL REBOUNDS TO OVER 12 MLN TONNES - REUTERS
China’s coal output returned to more than 12 million tonnes per day as of Feb. 20, the country’s state planner said on Monday, a level ...
Thursday, 17 February 22
MAJOR INSTITUTIONS PROVIDED OVER $1.5 TRLN TO COAL SECTOR IN 2019-2021, SAYS NGO GROUP - REUTERS
Financial institutions channelled more than $1.5 trillion into the coal industry in loans and underwriting from January 2019 to November 2021, even ...
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- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Coal and Oil Company - UAE
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bangladesh Power Developement Board
- Energy Development Corp, Philippines
- Vedanta Resources Plc - India
- Star Paper Mills Limited - India
- Heidelberg Cement - Germany
- Ministry of Transport, Egypt
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- TeaM Sual Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Indika Energy - Indonesia
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- LBH Netherlands Bv - Netherlands
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Indonesian Coal Mining Association
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Carbofer General Trading SA - India
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Malabar Cements Ltd - India
- Banpu Public Company Limited - Thailand
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- VISA Power Limited - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Intertek Mineral Services - Indonesia
- Kideco Jaya Agung - Indonesia
- Sakthi Sugars Limited - India
- Africa Commodities Group - South Africa
- Essar Steel Hazira Ltd - India
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Indogreen Group - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Kalimantan Lumbung Energi - Indonesia
- Eastern Energy - Thailand
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Independent Power Producers Association of India
- Madhucon Powers Ltd - India
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Coastal Gujarat Power Limited - India
- Romanian Commodities Exchange
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Barasentosa Lestari - Indonesia
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- The University of Queensland
- Tata Chemicals Ltd - India
- Binh Thuan Hamico - Vietnam
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- ASAPP Information Group - India
- Anglo American - United Kingdom
- Dalmia Cement Bharat India
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- ICICI Bank Limited - India
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Georgia Ports Authority, United States
- Directorate Of Revenue Intelligence - India
- Oldendorff Carriers - Singapore
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Thiess Contractors Indonesia
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- IEA Clean Coal Centre - UK
- Directorate General of MIneral and Coal - Indonesia
- Mercuria Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bhushan Steel Limited - India
- Bulk Trading Sa - Switzerland
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Sree Jayajothi Cements Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- CNBM International Corporation - China
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Kepco SPC Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Goldman Sachs - Singapore
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Trasteel International SA, Italy
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Krishnapatnam Port Company Ltd. - India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Sojitz Corporation - Japan
- Planning Commission, India
- Orica Mining Services - Indonesia
- Karaikal Port Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Port Waratah Coal Services - Australia
- Marubeni Corporation - India
- White Energy Company Limited
- Kartika Selabumi Mining - Indonesia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Economic Council, Georgia
- Therma Luzon, Inc, Philippines
- Energy Link Ltd, New Zealand
- Singapore Mercantile Exchange
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- GMR Energy Limited - India
- MS Steel International - UAE
- Orica Australia Pty. Ltd.
- Australian Commodity Traders Exchange
- Jaiprakash Power Ventures ltd
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Leighton Contractors Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
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