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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, 23 September 22
EUROPEAN STEEL BUYERS SEEK DIRECTION IN VOLATILE MARKET - MEPS INTERNATIONAL
Demand for steel is slow to recover, after the summer break. Mill production costs continue to increase. Steel purchasers are uncertain about the f ...
Friday, 23 September 22
BUOYANT COAL INDUSTRY SEEKS WAYS TO STAY IN THE LONG-TERM ENERGY MIX - REUTERS
There’s no doubt that the global coal industry has been a major beneficiary of Russia’s invasion of Ukraine and the subsequent energy c ...
Friday, 23 September 22
MARKET INSIGHT - INTERMODAL
In view of the forthcoming winter, Europe is trying to escape from its energy (oil & gas) dependency from Russia to ensure energy abundance eve ...
Tuesday, 20 September 22
CHINA'S DAILY COAL OUTPUT HITS 3-MONTH LOW IN AUGUST ON RAINS, COVID CURBS - REUTERS
China’s daily coal output in August slipped to a three-month low as some mines in its biggest coal mining regions reduced operations or even ...
Tuesday, 20 September 22
CHINA COAL OUTPUT UP 8.1 PCT IN AUGUST - XINHUA
China’s raw coal output posted stable expansion in August, official data showed.
The country produced 370 million tonnes of ra ...
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- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Bhushan Steel Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Romanian Commodities Exchange
- Deloitte Consulting - India
- Videocon Industries ltd - India
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Oil Corporation Limited
- Bangladesh Power Developement Board
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- The University of Queensland
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Vedanta Resources Plc - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Authority, New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Sojitz Corporation - Japan
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Global Green Power PLC Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Savvy Resources Ltd - HongKong
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Wood Mackenzie - Singapore
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Lanco Infratech Ltd - India
- Semirara Mining Corp, Philippines
- Xindia Steels Limited - India
- Orica Mining Services - Indonesia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- CNBM International Corporation - China
- Kartika Selabumi Mining - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Price Waterhouse Coopers - Russia
- Posco Energy - South Korea
- European Bulk Services B.V. - Netherlands
- Bulk Trading Sa - Switzerland
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Indonesian Coal Mining Association
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Indo Tambangraya Megah - Indonesia
- Salva Resources Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Economic Council, Georgia
- Kaltim Prima Coal - Indonesia
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Makarim & Taira - Indonesia
- GVK Power & Infra Limited - India
- Jindal Steel & Power Ltd - India
- Essar Steel Hazira Ltd - India
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
- Ind-Barath Power Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Miang Besar Coal Terminal - Indonesia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- MS Steel International - UAE
- Rashtriya Ispat Nigam Limited - India
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- International Coal Ventures Pvt Ltd - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Manunggal Multi Energi - Indonesia
- Africa Commodities Group - South Africa
- Barasentosa Lestari - Indonesia
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Bhoruka Overseas - Indonesia
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- SMG Consultants - Indonesia
- Kideco Jaya Agung - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- Borneo Indobara - Indonesia
- GMR Energy Limited - India
- Karaikal Port Pvt Ltd - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- McConnell Dowell - Australia
- Pendopo Energi Batubara - Indonesia
- Meenaskhi Energy Private Limited - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Merrill Lynch Commodities Europe
- SMC Global Power, Philippines
- Maheswari Brothers Coal Limited - India
- Attock Cement Pakistan Limited
- Renaissance Capital - South Africa
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Directorate Of Revenue Intelligence - India
- Intertek Mineral Services - Indonesia
- Planning Commission, India
- Siam City Cement PLC, Thailand
- Globalindo Alam Lestari - Indonesia
- GAC Shipping (India) Pvt Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- New Zealand Coal & Carbon
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Banpu Public Company Limited - Thailand
- Port Waratah Coal Services - Australia
- London Commodity Brokers - England
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Chamber of Mines of South Africa
- Tamil Nadu electricity Board
- Thai Mozambique Logistica
- Indogreen Group - Indonesia
- Agrawal Coal Company - India
- Indika Energy - Indonesia
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Altura Mining Limited, Indonesia
- Central Electricity Authority - India
- Interocean Group of Companies - India
- Iligan Light & Power Inc, Philippines
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kalimantan Lumbung Energi - Indonesia
- Energy Development Corp, Philippines
- White Energy Company Limited
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Trasteel International SA, Italy
- Eastern Coal Council - USA
- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Riau Bara Harum - Indonesia
- Energy Link Ltd, New Zealand
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Australian Commodity Traders Exchange
- Power Finance Corporation Ltd., India
- Ministry of Mines - Canada
- Parliament of New Zealand
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- PTC India Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Therma Luzon, Inc, Philippines
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