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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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- Energy Link Ltd, New Zealand
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Mines - Canada
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Australian Coal Association
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Electricity Generating Authority of Thailand
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Directorate Of Revenue Intelligence - India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Gujarat Electricity Regulatory Commission - India
- LBH Netherlands Bv - Netherlands
- Ambuja Cements Ltd - India
- Energy Development Corp, Philippines
- Central Electricity Authority - India
- Rio Tinto Coal - Australia
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Parry Sugars Refinery, India
- Singapore Mercantile Exchange
- Agrawal Coal Company - India
- Mercuria Energy - Indonesia
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Grasim Industreis Ltd - India
- PowerSource Philippines DevCo
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Attock Cement Pakistan Limited
- Commonwealth Bank - Australia
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Formosa Plastics Group - Taiwan
- Cement Manufacturers Association - India
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Therma Luzon, Inc, Philippines
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- Eastern Coal Council - USA
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Power Finance Corporation Ltd., India
- Vedanta Resources Plc - India
- Bharathi Cement Corporation - India
- Tamil Nadu electricity Board
- Cigading International Bulk Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bangladesh Power Developement Board
- Ind-Barath Power Infra Limited - India
- Intertek Mineral Services - Indonesia
- Bhushan Steel Limited - India
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Globalindo Alam Lestari - Indonesia
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Anglo American - United Kingdom
- Carbofer General Trading SA - India
- Chamber of Mines of South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Price Waterhouse Coopers - Russia
- Bukit Baiduri Energy - Indonesia
- New Zealand Coal & Carbon
- Aditya Birla Group - India
- Banpu Public Company Limited - Thailand
- Metalloyd Limited - United Kingdom
- Merrill Lynch Commodities Europe
- The Treasury - Australian Government
- Mintek Dendrill Indonesia
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Semirara Mining Corp, Philippines
- Toyota Tsusho Corporation, Japan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- SN Aboitiz Power Inc, Philippines
- Aboitiz Power Corporation - Philippines
- The State Trading Corporation of India Ltd
- TNB Fuel Sdn Bhd - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- India Bulls Power Limited - India
- Medco Energi Mining Internasional
- Larsen & Toubro Limited - India
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Indian Energy Exchange, India
- Indika Energy - Indonesia
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- SMC Global Power, Philippines
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- Electricity Authority, New Zealand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Videocon Industries ltd - India
- Posco Energy - South Korea
- Orica Australia Pty. Ltd.
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Altura Mining Limited, Indonesia
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- Global Green Power PLC Corporation, Philippines
- Essar Steel Hazira Ltd - India
- San Jose City I Power Corp, Philippines
- Sinarmas Energy and Mining - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- Planning Commission, India
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- European Bulk Services B.V. - Netherlands
- Port Waratah Coal Services - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Jindal Steel & Power Ltd - India
- Makarim & Taira - Indonesia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Bulk Trading Sa - Switzerland
- Gujarat Mineral Development Corp Ltd - India
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
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