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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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Wednesday, 01 December 21
MARKET INSIGHT - INTERMODAL
Essentially, anyone involved in the shipping and commodity markets still struggle with commodity supply issues and skyrocketing prices in the conte ...
Tuesday, 30 November 21
CHINA'S TOP ECONOMIC PLANNER SUMMONS COAL PRODUCERS; LONG-TERM PRICING MECHANISM IS ADVISED - GLOBAL TIMES
China’s top economic planner the National Development and Reform Commission (NDRC) said on Monday that they summoned coal producers for a hea ...
Tuesday, 30 November 21
CHINA'S COAL PRICES PLUNGE AFTER GOVT SIGNALS MORE PRICE REGULATION - REUTERS
China’s thermal coal futures dropped 5.6% on Monday after the state economic planner signaled further regulations for prices of the dirty pow ...
Friday, 26 November 21
AS COAL MARKET STABILIZES, CHINA STEPS UP NATURAL GAS SUPPLY TO MEET WINTER DEMAND - GLOBAL TIMES
The daily supply of natural gas in China has exceeded 1 billion cubic meters (bcm) since November began, up 11 percent year-on-year, data from stat ...
Friday, 26 November 21
CHINA FINDS COMPLIANCE PROBLEMS IN COAL PRICE INDEX PROBE - REUTERS
China’s state planner on Wednesday said it had discovered some “noncompliant” behaviour among coal price index providers as it an ...
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- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Kapuas Tunggal Persada - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Madhucon Powers Ltd - India
- Eastern Coal Council - USA
- Vedanta Resources Plc - India
- Larsen & Toubro Limited - India
- Meenaskhi Energy Private Limited - India
- Independent Power Producers Association of India
- Metalloyd Limited - United Kingdom
- Carbofer General Trading SA - India
- Australian Commodity Traders Exchange
- VISA Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- TeaM Sual Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Aditya Birla Group - India
- Thai Mozambique Logistica
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- PowerSource Philippines DevCo
- Trasteel International SA, Italy
- Edison Trading Spa - Italy
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Heidelberg Cement - Germany
- Jorong Barutama Greston.PT - Indonesia
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Sree Jayajothi Cements Limited - India
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Kideco Jaya Agung - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Tamil Nadu electricity Board
- Barasentosa Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Africa Commodities Group - South Africa
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Makarim & Taira - Indonesia
- Jaiprakash Power Ventures ltd
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Bukit Baiduri Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Merrill Lynch Commodities Europe
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- The State Trading Corporation of India Ltd
- Indika Energy - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kaltim Prima Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Uttam Galva Steels Limited - India
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- OPG Power Generation Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Interocean Group of Companies - India
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Price Waterhouse Coopers - Russia
- Directorate General of MIneral and Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Mercator Lines Limited - India
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- GMR Energy Limited - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Kobexindo Tractors - Indoneisa
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- LBH Netherlands Bv - Netherlands
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- Minerals Council of Australia
- Indian Energy Exchange, India
- Star Paper Mills Limited - India
- Sojitz Corporation - Japan
- McConnell Dowell - Australia
- Coal and Oil Company - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Attock Cement Pakistan Limited
- Pendopo Energi Batubara - Indonesia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Xindia Steels Limited - India
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- CIMB Investment Bank - Malaysia
- SMC Global Power, Philippines
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- PNOC Exploration Corporation - Philippines
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Dalmia Cement Bharat India
- Meralco Power Generation, Philippines
- Australian Coal Association
- Kepco SPC Power Corporation, Philippines
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Ambuja Cements Ltd - India
- Videocon Industries ltd - India
- Thiess Contractors Indonesia
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Wood Mackenzie - Singapore
- Siam City Cement PLC, Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Jindal Steel & Power Ltd - India
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
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