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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, 01 December 23
COAL MINERS GROUP EXPECTS INDONESIA’S 2023 COAL OUTPUT TO SURPASS TARGET - REUTERS
The Indonesian Coal Mining Association (ICMA) expects the country’s 2023 coal output to surpass the official target of 695 million metric ton ...
Friday, 24 November 23
COAL IMPORTS TO INDIA IN OCTOBER 2023 REACHED HIGHEST LEVELS IN NEARLY A YEAR AND A HALF - VESSELSVALUE, VESON NAUTICAL
In October, coal imports to India reached 13.8 mt in October 2023, according to Oceanbolt, a Veson Nautical solution, the highest level since May 2 ...
Friday, 24 November 23
COAL SHIPMENTS TO ADVANCED ECONOMIES DOWN 17% SO FAR IN 2023 - BIMCO
In the first ten months of 2023, coal shipments to advanced economies fell by 17% y/y, as demand for electricity declined and the share of electric ...
Friday, 24 November 23
INTELLIGENT COAL MINES CONTRIBUTE TO IMPROVING SAFETY STANDARDS - CHINA DAILY
Mechanization, automation and intelligent upgrades have contributed to improved safety in coal mines, though the level of development of intelligen ...
Friday, 24 November 23
WHY AUSTRALIA'S COAL MINES ARE GETTING BIGGER - IEEFA
Australia’s largest coal mines are getting larger. Mines in New South Wales (NSW) are ramping up production following the state’s recov ...
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- Anglo American - United Kingdom
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- SMC Global Power, Philippines
- Samtan Co., Ltd - South Korea
- Oldendorff Carriers - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Cement Manufacturers Association - India
- Indian Oil Corporation Limited
- Merrill Lynch Commodities Europe
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Georgia Ports Authority, United States
- Globalindo Alam Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Energy Development Corp, Philippines
- The State Trading Corporation of India Ltd
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bulk Trading Sa - Switzerland
- SMG Consultants - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- Aditya Birla Group - India
- Ministry of Mines - Canada
- Larsen & Toubro Limited - India
- Kobexindo Tractors - Indoneisa
- Standard Chartered Bank - UAE
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Latin American Coal - Colombia
- Aboitiz Power Corporation - Philippines
- Agrawal Coal Company - India
- Indian Energy Exchange, India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Power Finance Corporation Ltd., India
- New Zealand Coal & Carbon
- Sinarmas Energy and Mining - Indonesia
- Port Waratah Coal Services - Australia
- Singapore Mercantile Exchange
- Carbofer General Trading SA - India
- Central Electricity Authority - India
- Xindia Steels Limited - India
- Kumho Petrochemical, South Korea
- Baramulti Group, Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Australian Coal Association
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- LBH Netherlands Bv - Netherlands
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Bharathi Cement Corporation - India
- Semirara Mining and Power Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Ministry of Finance - Indonesia
- Price Waterhouse Coopers - Russia
- Jaiprakash Power Ventures ltd
- GAC Shipping (India) Pvt Ltd
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Electricity Authority, New Zealand
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- Toyota Tsusho Corporation, Japan
- Economic Council, Georgia
- Wood Mackenzie - Singapore
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- VISA Power Limited - India
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Global Green Power PLC Corporation, Philippines
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- PetroVietnam Power Coal Import and Supply Company
- Bukit Baiduri Energy - Indonesia
- Vizag Seaport Private Limited - India
- Siam City Cement - Thailand
- ASAPP Information Group - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Chettinad Cement Corporation Ltd - India
- Eastern Energy - Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- McConnell Dowell - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Mining Services - Indonesia
- Maheswari Brothers Coal Limited - India
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Orica Australia Pty. Ltd.
- Mercuria Energy - Indonesia
- Trasteel International SA, Italy
- Energy Link Ltd, New Zealand
- ICICI Bank Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Uttam Galva Steels Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Rio Tinto Coal - Australia
- Bukit Makmur.PT - Indonesia
- Mercator Lines Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Goldman Sachs - Singapore
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Semirara Mining Corp, Philippines
- Edison Trading Spa - Italy
- Vijayanagar Sugar Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Leighton Contractors Pty Ltd - Australia
- San Jose City I Power Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- Deloitte Consulting - India
- Manunggal Multi Energi - Indonesia
- Minerals Council of Australia
- Interocean Group of Companies - India
- Rashtriya Ispat Nigam Limited - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- Meenaskhi Energy Private Limited - India
- Indogreen Group - Indonesia
- Tata Chemicals Ltd - India
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- Formosa Plastics Group - Taiwan
- Indonesian Coal Mining Association
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Directorate General of MIneral and Coal - Indonesia
- White Energy Company Limited
- Parliament of New Zealand
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