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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, 12 October 22
MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2022 has been remarkable.
Focusing only on Tankers and Bulkers, such v ...
Monday, 10 October 22
ENERGY TRANSITION BOOSTS GLOBAL LONG-TERM DEMAND FOR METALS - FITCH RATINGS
The energy transition will significantly increase demand for metals used in manufacturing of electric vehicles (EVs) and renewable power generation ...
Monday, 10 October 22
GLOBAL CEOS EXPECT IMPENDING RECESSION TO BE 'SHORT AND SHARP,' POLL SHOWS - CNBC
Global CEOs are anticipating a recession in the next 12 months, according to a new survey by professional services firm KPMG, which said more than ...
Thursday, 06 October 22
AUSTRALIA’S RESOURCES REVENUE TO HIT RECORD AMID UKRAINE CONFLICT - REUTERS
Australian resources and energy export earnings are forecast to jump 7% to a record A$450 billion ($290 billion) this fiscal year, bolstered by soa ...
Thursday, 06 October 22
COAL INDIA ASKED TO ENHANCE SUPPLY TO THERMAL POWER PLANTS - IANS
With the festival season round the corner, Coal India Ltd. has been directed by the government to scale up dispatch to thermal power plants.
&n ...
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- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Australian Commodity Traders Exchange
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Eastern Energy - Thailand
- Power Finance Corporation Ltd., India
- Planning Commission, India
- GMR Energy Limited - India
- Economic Council, Georgia
- Central Java Power - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- The Treasury - Australian Government
- PNOC Exploration Corporation - Philippines
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Kumho Petrochemical, South Korea
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Riau Bara Harum - Indonesia
- San Jose City I Power Corp, Philippines
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- SMG Consultants - Indonesia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Coal and Oil Company - UAE
- Renaissance Capital - South Africa
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Eastern Coal Council - USA
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Interocean Group of Companies - India
- Mercator Lines Limited - India
- European Bulk Services B.V. - Netherlands
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement PLC, Thailand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Kaltim Prima Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Georgia Ports Authority, United States
- Oldendorff Carriers - Singapore
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Indonesian Coal Mining Association
- Tamil Nadu electricity Board
- Bhushan Steel Limited - India
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Samtan Co., Ltd - South Korea
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Price Waterhouse Coopers - Russia
- Miang Besar Coal Terminal - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Karbindo Abesyapradhi - Indoneisa
- Chettinad Cement Corporation Ltd - India
- ASAPP Information Group - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- White Energy Company Limited
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- Posco Energy - South Korea
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Karaikal Port Pvt Ltd - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Baramulti Group, Indonesia
- Agrawal Coal Company - India
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Energy Development Corp, Philippines
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- McConnell Dowell - Australia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- SMC Global Power, Philippines
- Sindya Power Generating Company Private Ltd
- Borneo Indobara - Indonesia
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Makarim & Taira - Indonesia
- Marubeni Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Jaiprakash Power Ventures ltd
- CIMB Investment Bank - Malaysia
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Attock Cement Pakistan Limited
- Uttam Galva Steels Limited - India
- International Coal Ventures Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- Wood Mackenzie - Singapore
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- Bhoruka Overseas - Indonesia
- Heidelberg Cement - Germany
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Jindal Steel & Power Ltd - India
- Aboitiz Power Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement - Thailand
- PTC India Limited - India
- Xindia Steels Limited - India
- Global Green Power PLC Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Semirara Mining Corp, Philippines
- Gujarat Electricity Regulatory Commission - India
- The University of Queensland
- Electricity Generating Authority of Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Directorate General of MIneral and Coal - Indonesia
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Cement Manufacturers Association - India
- Ministry of Mines - Canada
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- MS Steel International - UAE
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Globalindo Alam Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- Petron Corporation, Philippines
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