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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, 07 December 22
MARKET INSIGHT - INTERMODAL
China’s coal imports from January to October were 230.1m mt, a decrease of around 10.7% y-o-y (2021 totalled 323.2m mt). The question is if t ...
Wednesday, 07 December 22
INDIA'S STEEL MINISTRY SEEKS IMPORT TAX WAIVER FOR COKING COAL - SOURCES REUTERS REPORTED
India’s steel ministry has asked the finance ministry for a waiver of import tax on coking coal among a slew of raw materials, as it scramble ...
Tuesday, 06 December 22
INDIA'S COAL PRODUCTION RISES 17% IN APR-NOV PERIOD - PTI
The country’s coal production increased 17 per cent to 524.20 million tonnes in the April-November period of the ongoing fiscal.
...
Tuesday, 06 December 22
INDONESIA AIMS TO STARTS COLLECTING COAL LEVY IN Q1 2023 - MINISTER, REUTERS REPORTED
Indonesia aims to establish a coal fund agency and start collecting a coal levy in the first quarter next year, to help ensure supply security for ...
Saturday, 03 December 22
COMPLEX RUSSIAN PRICE CAP MAKES MARITIME VISIBILITY A MUST - WINDWARD
Many commentators and analysts are speculating about the potential impact the Russian seaborne oil price cap will have on organizations and entitie ...
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- Jorong Barutama Greston.PT - Indonesia
- Parry Sugars Refinery, India
- South Luzon Thermal Energy Corporation
- Toyota Tsusho Corporation, Japan
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- Samtan Co., Ltd - South Korea
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- Semirara Mining Corp, Philippines
- Indo Tambangraya Megah - Indonesia
- Coalindo Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- PNOC Exploration Corporation - Philippines
- Chettinad Cement Corporation Ltd - India
- Indogreen Group - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Timah Investasi Mineral - Indoneisa
- Africa Commodities Group - South Africa
- Mercuria Energy - Indonesia
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- CNBM International Corporation - China
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Tata Chemicals Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- Deloitte Consulting - India
- Ind-Barath Power Infra Limited - India
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Thiess Contractors Indonesia
- Sinarmas Energy and Mining - Indonesia
- Sakthi Sugars Limited - India
- White Energy Company Limited
- Coal and Oil Company - UAE
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Romanian Commodities Exchange
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Kumho Petrochemical, South Korea
- Iligan Light & Power Inc, Philippines
- Edison Trading Spa - Italy
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Ceylon Electricity Board - Sri Lanka
- Bukit Baiduri Energy - Indonesia
- Minerals Council of Australia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Posco Energy - South Korea
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Holcim Trading Pte Ltd - Singapore
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- TeaM Sual Corporation - Philippines
- Siam City Cement - Thailand
- Madhucon Powers Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kepco SPC Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- GAC Shipping (India) Pvt Ltd
- IEA Clean Coal Centre - UK
- Ministry of Mines - Canada
- India Bulls Power Limited - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Interocean Group of Companies - India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Global Business Power Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Ministry of Transport, Egypt
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Trasteel International SA, Italy
- Planning Commission, India
- MS Steel International - UAE
- Electricity Generating Authority of Thailand
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Energy Link Ltd, New Zealand
- Indian Oil Corporation Limited
- Orica Mining Services - Indonesia
- Bhushan Steel Limited - India
- Antam Resourcindo - Indonesia
- Sree Jayajothi Cements Limited - India
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vizag Seaport Private Limited - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Karaikal Port Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Leighton Contractors Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Wood Mackenzie - Singapore
- Bulk Trading Sa - Switzerland
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Eastern Coal Council - USA
- Straits Asia Resources Limited - Singapore
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Miang Besar Coal Terminal - Indonesia
- GMR Energy Limited - India
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- LBH Netherlands Bv - Netherlands
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- Kapuas Tunggal Persada - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Bangladesh Power Developement Board
- Standard Chartered Bank - UAE
- Independent Power Producers Association of India
- Ministry of Finance - Indonesia
- Merrill Lynch Commodities Europe
- Parliament of New Zealand
- The University of Queensland
- Star Paper Mills Limited - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Indonesian Coal Mining Association
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Banpu Public Company Limited - Thailand
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Dalmia Cement Bharat India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Borneo Indobara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Maharashtra Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Renaissance Capital - South Africa
- Jaiprakash Power Ventures ltd
- Metalloyd Limited - United Kingdom
- Barasentosa Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Directorate Of Revenue Intelligence - India
- Anglo American - United Kingdom
- Cement Manufacturers Association - India
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