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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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Sunday, 02 October 22
MISC STRENGTHENS ITS PARTNERSHIP WITH SEARIVER MARITIME
MISC Berhad (MISC) today announced that its subsidiaries Polaris LNG Three Pte. Ltd. and Polaris LNG Four Pte. Ltd. have secured long-term time cha ...
Thursday, 29 September 22
MARKET INSIGHT - INTERMODAL
This week, focus turns to the 38th APPEC Conference, where leading professionals from the global oil industry will discuss the future key drivers o ...
Thursday, 29 September 22
HIGH COAL PRICES REMAIN A CONCERN FOR DOMESTIC NON-FERROUS METAL COMPANIES - ICRA
According to ICRA on Monday, the high price of coal will have a negative effect on the profitability of domestic non-ferrous metal companies that m ...
Tuesday, 27 September 22
14% INCREASE IN EUROPEAN COAL DEMAND TO BE SHORT-TERM TREND - WOOD MACKENZIE
European seaborne thermal coal demand is projected to increase 14% or 12 million metric tonnes (Mt) this year to 98 Mt as it grapples with the curr ...
Friday, 23 September 22
CHINA DIGS DEEP TO RAISE COAL OUTPUT TO RECORD HIGH - REUTERS
China’s coal production has surged this year as the government seeks to improve energy security by reducing dependence on imports and amassin ...
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- Orica Australia Pty. Ltd.
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Goldman Sachs - Singapore
- Kepco SPC Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Posco Energy - South Korea
- Ministry of Transport, Egypt
- Indian Energy Exchange, India
- Latin American Coal - Colombia
- Australian Coal Association
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Straits Asia Resources Limited - Singapore
- Maheswari Brothers Coal Limited - India
- PTC India Limited - India
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- New Zealand Coal & Carbon
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Central Electricity Authority - India
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Eastern Energy - Thailand
- Eastern Coal Council - USA
- Thai Mozambique Logistica
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Makmur.PT - Indonesia
- Price Waterhouse Coopers - Russia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- The State Trading Corporation of India Ltd
- London Commodity Brokers - England
- Aditya Birla Group - India
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Java Power - Indonesia
- Manunggal Multi Energi - Indonesia
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Carbofer General Trading SA - India
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Indika Energy - Indonesia
- Larsen & Toubro Limited - India
- Savvy Resources Ltd - HongKong
- Dalmia Cement Bharat India
- Asmin Koalindo Tuhup - Indonesia
- Kobexindo Tractors - Indoneisa
- Deloitte Consulting - India
- Mercuria Energy - Indonesia
- Bulk Trading Sa - Switzerland
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Sarangani Energy Corporation, Philippines
- Energy Link Ltd, New Zealand
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Petron Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Lanco Infratech Ltd - India
- Krishnapatnam Port Company Ltd. - India
- European Bulk Services B.V. - Netherlands
- Iligan Light & Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Cement Manufacturers Association - India
- Sical Logistics Limited - India
- Bukit Baiduri Energy - Indonesia
- Indonesian Coal Mining Association
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Bhushan Steel Limited - India
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kaltim Prima Coal - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Heidelberg Cement - Germany
- Mercator Lines Limited - India
- GMR Energy Limited - India
- Kumho Petrochemical, South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Timah Investasi Mineral - Indoneisa
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- Agrawal Coal Company - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- Meralco Power Generation, Philippines
- Makarim & Taira - Indonesia
- Coal and Oil Company - UAE
- SMC Global Power, Philippines
- IHS Mccloskey Coal Group - USA
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Indo Tambangraya Megah - Indonesia
- Wood Mackenzie - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Electricity Generating Authority of Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- MS Steel International - UAE
- India Bulls Power Limited - India
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Trasteel International SA, Italy
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- GVK Power & Infra Limited - India
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Sakthi Sugars Limited - India
- PNOC Exploration Corporation - Philippines
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Energy Development Corp, Philippines
- Meenaskhi Energy Private Limited - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Vedanta Resources Plc - India
- White Energy Company Limited
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Directorate General of MIneral and Coal - Indonesia
- Planning Commission, India
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Orica Mining Services - Indonesia
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Tata Chemicals Ltd - India
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