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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, 16 September 22
DRY BULK MARKET: EU’S BAN ON RUSSIAN COAL LIFTS DEMAND DESPITE ECONOMIC HEADWINDS - BIMCO
Highlights
– The Baltic Exchange Dry Index (BDI) peaked in late May and has since fallen sharply as lower Chinese demand and adverse glob ...
Friday, 16 September 22
BIMCO EMBARKS ON NEW STANDARD FOR “QUIET ENJOYMENT”
KNOWLEDGE TO ELEVATE
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing i ...
Friday, 16 September 22
INDIAN COAL PRODUCTION TO RISE 150 PER CENT IN 10 YEARS: CENTRE - EXPRESS NEWS SERVICE
The Union Ministry of Mines is expecting 150 per cent growth in coal production 10 years down the line as a result of coal reforms that had been us ...
Thursday, 15 September 22
MARKET INSIGHT - INTERMODAL
While the Organization of Petroleum Exporting Countries and its allies agreed on a 100,000 b/d output cut last week, oil flows are in the spotlight ...
Monday, 12 September 22
COAL PRICE HIKE REMAINS DIFFICULT FOR CIL: CHAIRMAN TELLS ANALYSTS - PTI
Coal India on Thursday informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with h ...
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- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Merrill Lynch Commodities Europe
- Mercator Lines Limited - India
- South Luzon Thermal Energy Corporation
- Larsen & Toubro Limited - India
- Sarangani Energy Corporation, Philippines
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Kepco SPC Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Madhucon Powers Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Directorate General of MIneral and Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Electricity Generating Authority of Thailand
- Asmin Koalindo Tuhup - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Jaiprakash Power Ventures ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- CIMB Investment Bank - Malaysia
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Kobexindo Tractors - Indoneisa
- Tamil Nadu electricity Board
- AsiaOL BioFuels Corp., Philippines
- Mjunction Services Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Binh Thuan Hamico - Vietnam
- Romanian Commodities Exchange
- Planning Commission, India
- Bhushan Steel Limited - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- ASAPP Information Group - India
- Agrawal Coal Company - India
- Electricity Authority, New Zealand
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Global Business Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- VISA Power Limited - India
- Deloitte Consulting - India
- Bulk Trading Sa - Switzerland
- Dalmia Cement Bharat India
- Leighton Contractors Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- TeaM Sual Corporation - Philippines
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Toyota Tsusho Corporation, Japan
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- PowerSource Philippines DevCo
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Medco Energi Mining Internasional
- Chamber of Mines of South Africa
- MS Steel International - UAE
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Ind-Barath Power Infra Limited - India
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- GAC Shipping (India) Pvt Ltd
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Tata Chemicals Ltd - India
- Vedanta Resources Plc - India
- Sindya Power Generating Company Private Ltd
- Sree Jayajothi Cements Limited - India
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Savvy Resources Ltd - HongKong
- Alfred C Toepfer International GmbH - Germany
- Indian Energy Exchange, India
- The University of Queensland
- Ministry of Transport, Egypt
- Banpu Public Company Limited - Thailand
- Vizag Seaport Private Limited - India
- Sical Logistics Limited - India
- Coastal Gujarat Power Limited - India
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Star Paper Mills Limited - India
- Mercuria Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Central Electricity Authority - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Kartika Selabumi Mining - Indonesia
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- PTC India Limited - India
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Lanco Infratech Ltd - India
- Bukit Makmur.PT - Indonesia
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- Trasteel International SA, Italy
- IEA Clean Coal Centre - UK
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Bangladesh Power Developement Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Meralco Power Generation, Philippines
- Carbofer General Trading SA - India
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Economic Council, Georgia
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Energy Link Ltd, New Zealand
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Timah Investasi Mineral - Indoneisa
- Straits Asia Resources Limited - Singapore
- SMG Consultants - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement PLC, Thailand
- Barasentosa Lestari - Indonesia
- New Zealand Coal & Carbon
- Semirara Mining and Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Minerals Council of Australia
- Cement Manufacturers Association - India
- Renaissance Capital - South Africa
- Petron Corporation, Philippines
- Coal and Oil Company - UAE
- GVK Power & Infra Limited - India
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- OPG Power Generation Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bhatia International Limited - India
- Oldendorff Carriers - Singapore
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