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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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Monday, 19 December 22
ENERGY CRISIS FUELS COAL COMEBACK IN GERMANY - REUTERS
Coal has made a comeback in Germany this year, as Europe’s largest economy turns to the dirty fuel to power it through an energy crisis.
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Thursday, 15 December 22
MARKET INSIGHT - INTERMODAL
While observing the ship repair market very close to the end of the year, we are confident that shipyards worldwide are entering a new era. The nex ...
Tuesday, 13 December 22
STRONG COAL PRICES SUPPORT ROBUST EARNINGS AT INDONESIAN COAL MINERS - FITCH RATINGS
Fitch Ratings expects cash flow generation at Indonesian coal miners to remain strong in 2023, based on its forecast for coal prices to remain high ...
Tuesday, 13 December 22
BIMCO CII CLAUSE FINALLY RELEASED: DOES IT MAKE ANY SENSE OF CCI? - WFW
WHAT IS CII?
The new International Maritime Organisation’s (“IMO’s”) Carbon Intensity Indicator (“CII”) cer ...
Tuesday, 13 December 22
COAL BASE RAMPS UP ENERGY SUPPLY FOR WINTER NEEDS - XINHUA
Inner Mongolia Autonomous Region, China’s leading coal production base, has kicked its production into high gear to meet heating needs as col ...
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- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- MS Steel International - UAE
- Bulk Trading Sa - Switzerland
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Banpu Public Company Limited - Thailand
- Antam Resourcindo - Indonesia
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Ind-Barath Power Infra Limited - India
- Lanco Infratech Ltd - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- Indo Tambangraya Megah - Indonesia
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Savvy Resources Ltd - HongKong
- Semirara Mining Corp, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Romanian Commodities Exchange
- Wood Mackenzie - Singapore
- European Bulk Services B.V. - Netherlands
- Intertek Mineral Services - Indonesia
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Cigading International Bulk Terminal - Indonesia
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asmin Koalindo Tuhup - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- OPG Power Generation Pvt Ltd - India
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- Thai Mozambique Logistica
- Coal and Oil Company - UAE
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Salva Resources Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Oldendorff Carriers - Singapore
- Gujarat Sidhee Cement - India
- Petrochimia International Co. Ltd.- Taiwan
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Coalindo Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Cement Manufacturers Association - India
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Marubeni Corporation - India
- VISA Power Limited - India
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- ICICI Bank Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- Baramulti Group, Indonesia
- Ceylon Electricity Board - Sri Lanka
- India Bulls Power Limited - India
- TeaM Sual Corporation - Philippines
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Electricity Generating Authority of Thailand
- Uttam Galva Steels Limited - India
- Sical Logistics Limited - India
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Indonesian Coal Mining Association
- Global Coal Blending Company Limited - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- Jaiprakash Power Ventures ltd
- Krishnapatnam Port Company Ltd. - India
- Orica Mining Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- The University of Queensland
- Carbofer General Trading SA - India
- Bahari Cakrawala Sebuku - Indonesia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- The Treasury - Australian Government
- Tata Chemicals Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Sojitz Corporation - Japan
- Rio Tinto Coal - Australia
- Latin American Coal - Colombia
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Manunggal Multi Energi - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhoruka Overseas - Indonesia
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- Energy Development Corp, Philippines
- Posco Energy - South Korea
- Essar Steel Hazira Ltd - India
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karbindo Abesyapradhi - Indoneisa
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- Planning Commission, India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Wilmar Investment Holdings
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Sree Jayajothi Cements Limited - India
- Africa Commodities Group - South Africa
- London Commodity Brokers - England
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Edison Trading Spa - Italy
- Kumho Petrochemical, South Korea
- Meenaskhi Energy Private Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Altura Mining Limited, Indonesia
- Parliament of New Zealand
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Global Green Power PLC Corporation, Philippines
- Energy Link Ltd, New Zealand
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Goldman Sachs - Singapore
- Siam City Cement - Thailand
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- Agrawal Coal Company - India
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