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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, 25 November 21
SE ASIA POWER DEMAND TO RISE AS STATE SUPPORT MITIGATES COVID-19 IMPACT - FITCH RATINGS
Electricity demand in south-east Asia is likely to increase in 2021, following slow growth or contraction in 2020, thanks to state support that has ...
Thursday, 25 November 21
FITCH RATINGS INCREASES MOST GLOBAL METALS AND MINING PRICE ASSUMPTIONS - FITCH RATINGS
Fitch Ratings has increased most metals and mining price assumptions, particularly those that benefit from increased longer-term demand due to glob ...
Thursday, 25 November 21
CHINA'S COAL PRICE DROPS IN MID-NOVEMBER AMID GOVERNMENT’S SWEEPING MEASURES - GLOBAL TIMES
China’s coal prices have dropped significantly in mid-November compared with the beginning of the month, with the price of coking coal and co ...
Wednesday, 24 November 21
MARKET INSIGHT - INTERMODAL
Inflation is the word that has dominated the meetings of foreign leaders and finance ministers in recent weeks, as rising energy costs, supply chai ...
Wednesday, 24 November 21
WHY THIS MINING ANALYST IS UPBEAT ON THE IRON ORE PRICE FORECAST - MOTLEY FOOL
In many ways, 2021 can be called the year of the iron ore price. Much of the talk of the ASX town this year has revolved around this key economic m ...
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- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Interocean Group of Companies - India
- Mercuria Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- ASAPP Information Group - India
- CNBM International Corporation - China
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- SN Aboitiz Power Inc, Philippines
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Riau Bara Harum - Indonesia
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- GN Power Mariveles Coal Plant, Philippines
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Eastern Energy - Thailand
- Semirara Mining and Power Corporation, Philippines
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Romanian Commodities Exchange
- Singapore Mercantile Exchange
- The Treasury - Australian Government
- Bhatia International Limited - India
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- Lanco Infratech Ltd - India
- Kideco Jaya Agung - Indonesia
- Gujarat Sidhee Cement - India
- Chettinad Cement Corporation Ltd - India
- Standard Chartered Bank - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Meralco Power Generation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Rashtriya Ispat Nigam Limited - India
- Madhucon Powers Ltd - India
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- Binh Thuan Hamico - Vietnam
- Banpu Public Company Limited - Thailand
- Economic Council, Georgia
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Karbindo Abesyapradhi - Indoneisa
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- White Energy Company Limited
- Siam City Cement PLC, Thailand
- Australian Coal Association
- Manunggal Multi Energi - Indonesia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Altura Mining Limited, Indonesia
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Oldendorff Carriers - Singapore
- Sakthi Sugars Limited - India
- Indika Energy - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Intertek Mineral Services - Indonesia
- Attock Cement Pakistan Limited
- Bharathi Cement Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- SMG Consultants - Indonesia
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Kapuas Tunggal Persada - Indonesia
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Coastal Gujarat Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Larsen & Toubro Limited - India
- PTC India Limited - India
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Tamil Nadu electricity Board
- Ministry of Mines - Canada
- Independent Power Producers Association of India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- TeaM Sual Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- Indian Energy Exchange, India
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Directorate General of MIneral and Coal - Indonesia
- Grasim Industreis Ltd - India
- Jaiprakash Power Ventures ltd
- Xindia Steels Limited - India
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Barasentosa Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Alfred C Toepfer International GmbH - Germany
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Baramulti Group, Indonesia
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- Kumho Petrochemical, South Korea
- Holcim Trading Pte Ltd - Singapore
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Agrawal Coal Company - India
- Maheswari Brothers Coal Limited - India
- Malabar Cements Ltd - India
- Karaikal Port Pvt Ltd - India
- Thai Mozambique Logistica
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Planning Commission, India
- Vedanta Resources Plc - India
- The University of Queensland
- PNOC Exploration Corporation - Philippines
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Vizag Seaport Private Limited - India
- GAC Shipping (India) Pvt Ltd
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Central Electricity Authority - India
- IHS Mccloskey Coal Group - USA
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Uttam Galva Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- Posco Energy - South Korea
- The State Trading Corporation of India Ltd
- Coal and Oil Company - UAE
- Parliament of New Zealand
- Simpson Spence & Young - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Central Java Power - Indonesia
- GMR Energy Limited - India
- Anglo American - United Kingdom
- Meenaskhi Energy Private Limited - India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Therma Luzon, Inc, Philippines
- Siam City Cement - Thailand
- VISA Power Limited - India
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