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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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Tuesday, 29 November 22
SEABORNE COAL FLOWS IN 2022 - SIGNAL
This year is crucial for the energy mix in European countries, as the EU has imposed new sanctions on Russia. It is important to emphasize that the ...
Friday, 25 November 22
APAC THERMAL COAL PRICES CORRECT FROM RECORD HIGH - FITCH RATINGS
Prices of Newcastle 6,000kcal/kg coal have corrected following falling European gas and coal prices, and more supply from Australia could help miti ...
Thursday, 24 November 22
VIETNAM BOOSTS COAL USE PLAN FOR 2030 AS G7 CLIMATE OFFER STALLS - REUTERS
Vietnam has increased its coal power target for 2030 under a revised draft energy plan, government documents seen by Reuters show, while renewables ...
Tuesday, 22 November 22
THE GENCON 2022 CHARTERPARTY - GARD
KNOWLEDGE TO ELEVATE
BIMCO has published a revamped version of the popular GENCON charterparty. Our author, Helena Biggs, was a member of the ...
Tuesday, 22 November 22
INDIA POWER BINGES ON COAL, OUTPACES ASIA - REUTERS
India’s coal-fired power output has increased much faster than any other country in the Asia Pacific since Russia’s invasion of Ukraine ...
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- IEA Clean Coal Centre - UK
- Eastern Coal Council - USA
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Australian Commodity Traders Exchange
- Bharathi Cement Corporation - India
- Aditya Birla Group - India
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- Orica Mining Services - Indonesia
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- Petron Corporation, Philippines
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
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- Coalindo Energy - Indonesia
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- India Bulls Power Limited - India
- Trasteel International SA, Italy
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Kalimantan Lumbung Energi - Indonesia
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- Parliament of New Zealand
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- Oldendorff Carriers - Singapore
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- Uttam Galva Steels Limited - India
- Australian Coal Association
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- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Maharashtra Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- SN Aboitiz Power Inc, Philippines
- Meralco Power Generation, Philippines
- Ministry of Transport, Egypt
- Globalindo Alam Lestari - Indonesia
- MS Steel International - UAE
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- Indo Tambangraya Megah - Indonesia
- Larsen & Toubro Limited - India
- Bahari Cakrawala Sebuku - Indonesia
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- Bhushan Steel Limited - India
- TeaM Sual Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Standard Chartered Bank - UAE
- Attock Cement Pakistan Limited
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- Madhucon Powers Ltd - India
- Sindya Power Generating Company Private Ltd
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Directorate Of Revenue Intelligence - India
- Commonwealth Bank - Australia
- Karbindo Abesyapradhi - Indoneisa
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- Vizag Seaport Private Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- San Jose City I Power Corp, Philippines
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- PTC India Limited - India
- Anglo American - United Kingdom
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Lanco Infratech Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Timah Investasi Mineral - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- McConnell Dowell - Australia
- Semirara Mining and Power Corporation, Philippines
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Kumho Petrochemical, South Korea
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Electricity Authority, New Zealand
- Sical Logistics Limited - India
- CIMB Investment Bank - Malaysia
- Mintek Dendrill Indonesia
- Georgia Ports Authority, United States
- The University of Queensland
- Chamber of Mines of South Africa
- Power Finance Corporation Ltd., India
- Krishnapatnam Port Company Ltd. - India
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- The Treasury - Australian Government
- Sojitz Corporation - Japan
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Sinarmas Energy and Mining - Indonesia
- Formosa Plastics Group - Taiwan
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Latin American Coal - Colombia
- ASAPP Information Group - India
- Simpson Spence & Young - Indonesia
- Salva Resources Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Jindal Steel & Power Ltd - India
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Goldman Sachs - Singapore
- Agrawal Coal Company - India
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- The State Trading Corporation of India Ltd
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- Gujarat Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Carbofer General Trading SA - India
- Coastal Gujarat Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Siam City Cement PLC, Thailand
- Planning Commission, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- White Energy Company Limited
- Mjunction Services Limited - India
- Billiton Holdings Pty Ltd - Australia
- Baramulti Group, Indonesia
- Holcim Trading Pte Ltd - Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Edison Trading Spa - Italy
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Orica Australia Pty. Ltd.
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Deloitte Consulting - India
- Central Java Power - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Riau Bara Harum - Indonesia
- Straits Asia Resources Limited - Singapore
- Bangladesh Power Developement Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Africa Commodities Group - South Africa
- Miang Besar Coal Terminal - Indonesia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Bayan Resources Tbk. - Indonesia
- LBH Netherlands Bv - Netherlands
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
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