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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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Friday, 05 January 24
BANGLADESH’S 2023 COAL-FIRED POWER OUTPUT TRIPLED, EASING SHORTAGES - REUTERS
Bangladesh nearly tripled its coal-fired power output in 2023, a Reuters analysis of government data showed, helping it tide over the worst power s ...
Tuesday, 02 January 24
COAL TRADE CONTINUES TO HEAD EAST - BALTIC EXCHANGE
The global coal trade, once concentrated in the Pacific and Atlantic basins, is undergoing a significant transformation, as highlighted in the Inte ...
Tuesday, 02 January 24
COAL CARGOES: AVOIDING EXPLOSION AND SELF-HEATING - GARD
KNOWLEDGE TO ELEVATE
Despite its contribution to greenhouse gas emissions, global coal consumption climbed to an all-time high in 2022 and is ...
Tuesday, 02 January 24
SINOPEC FORECASTS CHINA’S COAL CONSUMPTION TO PEAK AROUND 2025 - REUTERS
China Petrochemical Corp, or Sinopec, expects coal consumption to peak around 2025 at 4.37 billion metric tons, the state energy group said in an o ...
Thursday, 07 December 23
CHINA TO SET UP COAL PRODUCTION RESERVE TO STABILISE PRICES - REUTERS
China will establish a back-up coal production system by 2027 to stabilise prices and secure coal supply, the state planner said on Wednesday, even ...
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- Agrawal Coal Company - India
- Ministry of Mines - Canada
- Sindya Power Generating Company Private Ltd
- Kepco SPC Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Romanian Commodities Exchange
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Price Waterhouse Coopers - Russia
- Indian Oil Corporation Limited
- Central Java Power - Indonesia
- The Treasury - Australian Government
- Australian Coal Association
- Trasteel International SA, Italy
- Bukit Makmur.PT - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- CNBM International Corporation - China
- The State Trading Corporation of India Ltd
- Global Business Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Anglo American - United Kingdom
- Samtan Co., Ltd - South Korea
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Electricity Authority, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Vijayanagar Sugar Pvt Ltd - India
- Mercuria Energy - Indonesia
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Vizag Seaport Private Limited - India
- Asmin Koalindo Tuhup - Indonesia
- GAC Shipping (India) Pvt Ltd
- Indo Tambangraya Megah - Indonesia
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Sical Logistics Limited - India
- Globalindo Alam Lestari - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Standard Chartered Bank - UAE
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Iligan Light & Power Inc, Philippines
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Essar Steel Hazira Ltd - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- Savvy Resources Ltd - HongKong
- Minerals Council of Australia
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercator Lines Limited - India
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bharathi Cement Corporation - India
- Interocean Group of Companies - India
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Power Finance Corporation Ltd., India
- Billiton Holdings Pty Ltd - Australia
- Eastern Energy - Thailand
- GMR Energy Limited - India
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Indogreen Group - Indonesia
- Leighton Contractors Pty Ltd - Australia
- SMC Global Power, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Wood Mackenzie - Singapore
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Tamil Nadu electricity Board
- Karaikal Port Pvt Ltd - India
- The University of Queensland
- Metalloyd Limited - United Kingdom
- Toyota Tsusho Corporation, Japan
- Global Coal Blending Company Limited - Australia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- AsiaOL BioFuels Corp., Philippines
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Georgia Ports Authority, United States
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
- McConnell Dowell - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Siam City Cement - Thailand
- Orica Australia Pty. Ltd.
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- Thiess Contractors Indonesia
- Semirara Mining and Power Corporation, Philippines
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Aboitiz Power Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Australian Commodity Traders Exchange
- Manunggal Multi Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Therma Luzon, Inc, Philippines
- Petron Corporation, Philippines
- Oldendorff Carriers - Singapore
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Directorate General of MIneral and Coal - Indonesia
- IHS Mccloskey Coal Group - USA
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Port Waratah Coal Services - Australia
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Antam Resourcindo - Indonesia
- South Luzon Thermal Energy Corporation
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Orica Mining Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Thai Mozambique Logistica
- Carbofer General Trading SA - India
- Timah Investasi Mineral - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- Sree Jayajothi Cements Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Energy Development Corp, Philippines
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Siam City Cement PLC, Thailand
- Medco Energi Mining Internasional
- Neyveli Lignite Corporation Ltd, - India
- Borneo Indobara - Indonesia
- Straits Asia Resources Limited - Singapore
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Barasentosa Lestari - Indonesia
- Commonwealth Bank - Australia
- Banpu Public Company Limited - Thailand
- Rio Tinto Coal - Australia
- Coalindo Energy - Indonesia
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- New Zealand Coal & Carbon
- Offshore Bulk Terminal Pte Ltd, Singapore
- Coastal Gujarat Power Limited - India
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- India Bulls Power Limited - India
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