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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, 18 November 22
REALITIES OF LOI LIABILITIES - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
The cargo misdelivery claim in Trafigura Maritime Logistics Pte Ltd v. Clearlake Shipping Pte Ltd (Miracle Hope) [2022] E ...
Tuesday, 15 November 22
CHINA SEES RISING COAL STORAGE AMID SUPPLY PUSH - XINHUA
Coal stockpiles at China’s power plants have seen considerable increases, ensuring energy supply for the winter, the country’s energy r ...
Tuesday, 15 November 22
SEABORNE THERMAL COAL PRICES START TO EASE, BUT PROCESS IS UNEVEN - REUTERS
Prices for seaborne thermal coal have started to drop as fears of a winter energy crunch ease, but the rate of decline has varied across the differ ...
Thursday, 10 November 22
INDIA: THERMAL PLANTS HAVE ADEQUATE COAL STOCKS AT 25.6 MILLION TONNES, SAYS GOVT - IANS
The coal stock with domestic dry fuel-based power plants, as on October 31, was 25.6 million tonnes, the government said, adding that the availabil ...
Tuesday, 08 November 22
OUTLOOK ON CHINA’S WEAKENED BASIC MATERIALS SECTOR CLOUDED BY POLICY SWINGS - FITCH RATINGS
Fitch Ratings expects basic materials demand in China to improve qoq in 4Q22, driven by seasonally higher construction activity, solid infrastructu ...
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- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Bulk Trading Sa - Switzerland
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Borneo Indobara - Indonesia
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- Savvy Resources Ltd - HongKong
- London Commodity Brokers - England
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Electricity Generating Authority of Thailand
- Holcim Trading Pte Ltd - Singapore
- Trasteel International SA, Italy
- Sindya Power Generating Company Private Ltd
- Rio Tinto Coal - Australia
- Grasim Industreis Ltd - India
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Vedanta Resources Plc - India
- Sojitz Corporation - Japan
- Standard Chartered Bank - UAE
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Banpu Public Company Limited - Thailand
- Kaltim Prima Coal - Indonesia
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- SMG Consultants - Indonesia
- White Energy Company Limited
- New Zealand Coal & Carbon
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- PowerSource Philippines DevCo
- Meralco Power Generation, Philippines
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- TeaM Sual Corporation - Philippines
- McConnell Dowell - Australia
- Intertek Mineral Services - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Indonesian Coal Mining Association
- Miang Besar Coal Terminal - Indonesia
- Star Paper Mills Limited - India
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Iligan Light & Power Inc, Philippines
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Ambuja Cements Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Bank of Tokyo Mitsubishi UFJ Ltd
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bukit Baiduri Energy - Indonesia
- GVK Power & Infra Limited - India
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Attock Cement Pakistan Limited
- Barasentosa Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Metalloyd Limited - United Kingdom
- Minerals Council of Australia
- Wilmar Investment Holdings
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- SN Aboitiz Power Inc, Philippines
- ICICI Bank Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mercuria Energy - Indonesia
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Marubeni Corporation - India
- Latin American Coal - Colombia
- Madhucon Powers Ltd - India
- Central Electricity Authority - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Globalindo Alam Lestari - Indonesia
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Cigading International Bulk Terminal - Indonesia
- Anglo American - United Kingdom
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sree Jayajothi Cements Limited - India
- Coalindo Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Africa Commodities Group - South Africa
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Heidelberg Cement - Germany
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Price Waterhouse Coopers - Russia
- The University of Queensland
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- Binh Thuan Hamico - Vietnam
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Global Coal Blending Company Limited - Australia
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Mercator Lines Limited - India
- Antam Resourcindo - Indonesia
- Timah Investasi Mineral - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Coal and Oil Company - UAE
- Eastern Energy - Thailand
- Port Waratah Coal Services - Australia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- Formosa Plastics Group - Taiwan
- Renaissance Capital - South Africa
- Kalimantan Lumbung Energi - Indonesia
- Singapore Mercantile Exchange
- PetroVietnam Power Coal Import and Supply Company
- Kartika Selabumi Mining - Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Energy Development Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- Aditya Birla Group - India
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Essar Steel Hazira Ltd - India
- Riau Bara Harum - Indonesia
- Deloitte Consulting - India
- Eastern Coal Council - USA
- Ind-Barath Power Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- Petron Corporation, Philippines
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- ASAPP Information Group - India
- Gujarat Sidhee Cement - India
- Kideco Jaya Agung - Indonesia
- Sarangani Energy Corporation, Philippines
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