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