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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, 22 November 23
INDIA: GOVERNMENT PLANS 1.4 BILLION TONNE COAL OUTPUT BY 2027 - LIVEMINT
The Union coal ministry on Monday announced plans to increase India’s coal production to 1.404 billion tonne by 2027, with an eye to further ...
Wednesday, 22 November 23
OBLIGATION. INDONESIA AIMS TO START COLLECTING LEVIES FROM COAL MINERS IN JANUARY - REUTERS
Indonesia plans to start collecting levies from coal miners in January to be used to compensate miners who sell coal to the state utility at lower ...
Tuesday, 21 November 23
INDIAN COAL POWER PLANTS’ CAPACITY UTILISATION WILL IMPROVE TO 65% THIS FISCAL: - CRISIL
Coal-based thermal power units’ plant load factor (PLF) or capacity utilisation will improve to 65 percent in the current fiscal year despite ...
Tuesday, 14 November 23
CAPITAL PRODUCT PARTNERS L.P. ANNOUNCES TRANSFORMATIVE TRANSACTION INCLUDING THE ACQUISITION OF 11 NEWBUILD LNG CARRIERS FOR $3.1 BILLION
Capital Product Partners L.P. announced that it has entered into an umbrella agreement (the “Umbrella Agreement”) with Capital Maritime ...
Tuesday, 14 November 23
COAL INDIA BEATS Q2 PROFIT VIEW ON HIGH POWER DEMAND AMID WEAK MONSOON - REUTERS
Coal India on Friday reported better-than-expected second-quarter profit, helped by high power demand and boosted production amid a weak monsoon.
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- Siam City Cement - Thailand
- Antam Resourcindo - Indonesia
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- IEA Clean Coal Centre - UK
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
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- Africa Commodities Group - South Africa
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- Electricity Authority, New Zealand
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- The Treasury - Australian Government
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- Orica Australia Pty. Ltd.
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- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Planning Commission, India
- Malabar Cements Ltd - India
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Interocean Group of Companies - India
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- SMG Consultants - Indonesia
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- Chamber of Mines of South Africa
- Madhucon Powers Ltd - India
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- McConnell Dowell - Australia
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- ICICI Bank Limited - India
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- Oldendorff Carriers - Singapore
- Central Java Power - Indonesia
- Indian Energy Exchange, India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Bahari Cakrawala Sebuku - Indonesia
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Banpu Public Company Limited - Thailand
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Wood Mackenzie - Singapore
- PNOC Exploration Corporation - Philippines
- Port Waratah Coal Services - Australia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- VISA Power Limited - India
- Central Electricity Authority - India
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bharathi Cement Corporation - India
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Anglo American - United Kingdom
- Georgia Ports Authority, United States
- Thiess Contractors Indonesia
- International Coal Ventures Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- Timah Investasi Mineral - Indoneisa
- AsiaOL BioFuels Corp., Philippines
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- South Luzon Thermal Energy Corporation
- Simpson Spence & Young - Indonesia
- OPG Power Generation Pvt Ltd - India
- Trasteel International SA, Italy
- Mercuria Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Grasim Industreis Ltd - India
- Bhatia International Limited - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kartika Selabumi Mining - Indonesia
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- GMR Energy Limited - India
- White Energy Company Limited
- PetroVietnam Power Coal Import and Supply Company
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Toyota Tsusho Corporation, Japan
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Barasentosa Lestari - Indonesia
- Gujarat Sidhee Cement - India
- Bayan Resources Tbk. - Indonesia
- Bhoruka Overseas - Indonesia
- Australian Commodity Traders Exchange
- Sakthi Sugars Limited - India
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- MS Steel International - UAE
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Thai Mozambique Logistica
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Ceylon Electricity Board - Sri Lanka
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Goldman Sachs - Singapore
- Cigading International Bulk Terminal - Indonesia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Meenaskhi Energy Private Limited - India
- Xindia Steels Limited - India
- Romanian Commodities Exchange
- Kepco SPC Power Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Ministry of Transport, Egypt
- Formosa Plastics Group - Taiwan
- GVK Power & Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Aditya Birla Group - India
- CNBM International Corporation - China
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Dalmia Cement Bharat India
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