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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, 02 September 22
ABM INVESTAMA BUYS 30% GEMS SHARES FOR US$ 420 MILLION
PT ABM Investama Tbk through its indirect subsidiary, bought a 30% stake in the PT Golden Energy Mines Tbk for US$ 420 million or around Rp 6.2 tri ...
Wednesday, 31 August 22
MARKET INSIGHT - INTERMODAL
Scorching temperatures and extremely dry conditions during the Northern hemisphere summer have been drying crops. Yield prospects have subsided in ...
Tuesday, 23 August 22
HIGH COAL PRICES COULD BOOST INDONESIA'S ENERGY TRANSITION - IEEFA
Global coal prices have reached an all-time high as countries stop purchasing Russian coal amidst the Russia-Ukraine conflict. Indonesian coal comp ...
Tuesday, 23 August 22
A COMBINED US$6.8-BILLION CASH BALANCE OF INDONESIAN COAL COMPANIES COULD PROVIDE FOR TIMELY INVESTMENTS IN GREEN TRANSITION - IEEFA
A combined US$6.8-billion cash balance of Indonesian coal companies could provide for timely investments in green transition
The opp ...
Tuesday, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
After more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk ...
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- Minerals Council of Australia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Independent Power Producers Association of India
- Marubeni Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Borneo Indobara - Indonesia
- Coastal Gujarat Power Limited - India
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Mjunction Services Limited - India
- Banpu Public Company Limited - Thailand
- IEA Clean Coal Centre - UK
- CNBM International Corporation - China
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- The University of Queensland
- Economic Council, Georgia
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Rio Tinto Coal - Australia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Larsen & Toubro Limited - India
- Interocean Group of Companies - India
- Toyota Tsusho Corporation, Japan
- Sical Logistics Limited - India
- Madhucon Powers Ltd - India
- Indika Energy - Indonesia
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- The Treasury - Australian Government
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Price Waterhouse Coopers - Russia
- Chettinad Cement Corporation Ltd - India
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- SMC Global Power, Philippines
- Power Finance Corporation Ltd., India
- Straits Asia Resources Limited - Singapore
- Tamil Nadu electricity Board
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Salva Resources Pvt Ltd - India
- Coalindo Energy - Indonesia
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Indogreen Group - Indonesia
- Africa Commodities Group - South Africa
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Therma Luzon, Inc, Philippines
- Uttam Galva Steels Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Billiton Holdings Pty Ltd - Australia
- Central Electricity Authority - India
- TNB Fuel Sdn Bhd - Malaysia
- Kalimantan Lumbung Energi - Indonesia
- Georgia Ports Authority, United States
- Semirara Mining and Power Corporation, Philippines
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Port Waratah Coal Services - Australia
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- International Coal Ventures Pvt Ltd - India
- Singapore Mercantile Exchange
- Planning Commission, India
- Wood Mackenzie - Singapore
- Merrill Lynch Commodities Europe
- Essar Steel Hazira Ltd - India
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Bhushan Steel Limited - India
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Thai Mozambique Logistica
- Sakthi Sugars Limited - India
- Simpson Spence & Young - Indonesia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bangladesh Power Developement Board
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- PowerSource Philippines DevCo
- Sree Jayajothi Cements Limited - India
- Savvy Resources Ltd - HongKong
- Cement Manufacturers Association - India
- Gujarat Sidhee Cement - India
- Central Java Power - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Global Coal Blending Company Limited - Australia
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Grasim Industreis Ltd - India
- Agrawal Coal Company - India
- Petron Corporation, Philippines
- Kumho Petrochemical, South Korea
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kepco SPC Power Corporation, Philippines
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- GMR Energy Limited - India
- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Parliament of New Zealand
- PTC India Limited - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Edison Trading Spa - Italy
- Parry Sugars Refinery, India
- MS Steel International - UAE
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Star Paper Mills Limited - India
- India Bulls Power Limited - India
- Malabar Cements Ltd - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Sarangani Energy Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Lanco Infratech Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Dalmia Cement Bharat India
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Ind-Barath Power Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Semirara Mining Corp, Philippines
- Bulk Trading Sa - Switzerland
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Eastern Energy - Thailand
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Kartika Selabumi Mining - Indonesia
- San Jose City I Power Corp, Philippines
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