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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, 16 November 21
CHINA'S MONTHLY COAL OUTPUT RISES TO HIGHEST SINCE MARCH 2015 - REUTERS
China’s October coal output rose to the highest since at least March 2015, after Beijing approved a raft of coal mine expansions to tame reco ...
Friday, 12 November 21
RUSSIA-INDIA COKING COAL DEAL UNLIKELY TO IMPACT PANAMAX SHIPPING - DREWRY
Russia and India have recently entered into an agreement whereby Russia will supply up to 40 million tonnes of coking coal to India every year. Dre ...
Friday, 12 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
Friday, 12 November 21
INDONESIAN COAL PRICE REFERENCE TOPS $215 A TON; THE HIGHEST COAL PRICE IN HISTORY
COALspot.com: Indonesian Coal Price Reference in a steep climb for most of second half of 2021 as it reached a pinnacle of $215.01 in November 2021 ...
Thursday, 11 November 21
ASIA COAL POWER PIPELINE TO SHRINK BY TWO THIRDS AFTER CHINA FINANCE CUT - REUTERS
Asia’s pipeline of proposed coal-fired power plants is expected to shrink from 65 gigawatts to 22 gigawatts following China’s pledge to ...
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- Savvy Resources Ltd - HongKong
- Petrochimia International Co. Ltd.- Taiwan
- Kepco SPC Power Corporation, Philippines
- Renaissance Capital - South Africa
- Dalmia Cement Bharat India
- Anglo American - United Kingdom
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Kumho Petrochemical, South Korea
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Cigading International Bulk Terminal - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- PowerSource Philippines DevCo
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Sojitz Corporation - Japan
- Singapore Mercantile Exchange
- Maharashtra Electricity Regulatory Commission - India
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Agrawal Coal Company - India
- Attock Cement Pakistan Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Gujarat Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Georgia Ports Authority, United States
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Port Waratah Coal Services - Australia
- Central Java Power - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Manunggal Multi Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Coalindo Energy - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Alfred C Toepfer International GmbH - Germany
- GAC Shipping (India) Pvt Ltd
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- Merrill Lynch Commodities Europe
- Energy Link Ltd, New Zealand
- Barasentosa Lestari - Indonesia
- Straits Asia Resources Limited - Singapore
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- Marubeni Corporation - India
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Posco Energy - South Korea
- Heidelberg Cement - Germany
- Binh Thuan Hamico - Vietnam
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- OPG Power Generation Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- MS Steel International - UAE
- Thai Mozambique Logistica
- Bhoruka Overseas - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Global Coal Blending Company Limited - Australia
- Antam Resourcindo - Indonesia
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Ceylon Electricity Board - Sri Lanka
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
- Parliament of New Zealand
- Indika Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vizag Seaport Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Tata Chemicals Ltd - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Planning Commission, India
- Commonwealth Bank - Australia
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Neyveli Lignite Corporation Ltd, - India
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- White Energy Company Limited
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Bukit Baiduri Energy - Indonesia
- Meralco Power Generation, Philippines
- IEA Clean Coal Centre - UK
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Jaiprakash Power Ventures ltd
- Thiess Contractors Indonesia
- Economic Council, Georgia
- Riau Bara Harum - Indonesia
- Bulk Trading Sa - Switzerland
- Mjunction Services Limited - India
- The University of Queensland
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Central Electricity Authority - India
- Trasteel International SA, Italy
- Goldman Sachs - Singapore
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Orica Mining Services - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CNBM International Corporation - China
- Billiton Holdings Pty Ltd - Australia
- GMR Energy Limited - India
- SMC Global Power, Philippines
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- ICICI Bank Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- CIMB Investment Bank - Malaysia
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