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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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Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercializ ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
Sunday, 21 August 22
COAL-RICH POLAND FACES WINTER OF ENERGY DISCONTENT - DW
Poland uses 10 million tons of coal a year to heat households — a whopping 87% of all coal consumed in EU homes in 2019, according to the War ...
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- Marubeni Corporation - India
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- MS Steel International - UAE
- Maheswari Brothers Coal Limited - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Deloitte Consulting - India
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Central Java Power - Indonesia
- Kepco SPC Power Corporation, Philippines
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Agrawal Coal Company - India
- Makarim & Taira - Indonesia
- Borneo Indobara - Indonesia
- Ministry of Finance - Indonesia
- Global Green Power PLC Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- Sojitz Corporation - Japan
- IEA Clean Coal Centre - UK
- Timah Investasi Mineral - Indoneisa
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Heidelberg Cement - Germany
- Antam Resourcindo - Indonesia
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Thai Mozambique Logistica
- Thiess Contractors Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Price Waterhouse Coopers - Russia
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Grasim Industreis Ltd - India
- Petron Corporation, Philippines
- Wilmar Investment Holdings
- Chamber of Mines of South Africa
- Directorate Of Revenue Intelligence - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sinarmas Energy and Mining - Indonesia
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Kalimantan Lumbung Energi - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- GMR Energy Limited - India
- TeaM Sual Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- SMG Consultants - Indonesia
- Ambuja Cements Ltd - India
- Globalindo Alam Lestari - Indonesia
- OPG Power Generation Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Jaiprakash Power Ventures ltd
- Essar Steel Hazira Ltd - India
- Port Waratah Coal Services - Australia
- Wood Mackenzie - Singapore
- Orica Australia Pty. Ltd.
- Chettinad Cement Corporation Ltd - India
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Posco Energy - South Korea
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- SMC Global Power, Philippines
- Semirara Mining and Power Corporation, Philippines
- Goldman Sachs - Singapore
- Leighton Contractors Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Malabar Cements Ltd - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Iligan Light & Power Inc, Philippines
- Singapore Mercantile Exchange
- Toyota Tsusho Corporation, Japan
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kideco Jaya Agung - Indonesia
- Sindya Power Generating Company Private Ltd
- Parliament of New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- Manunggal Multi Energi - Indonesia
- Sarangani Energy Corporation, Philippines
- Planning Commission, India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Eastern Energy - Thailand
- Semirara Mining Corp, Philippines
- Mercuria Energy - Indonesia
- Australian Coal Association
- Eastern Coal Council - USA
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Indonesian Coal Mining Association
- The University of Queensland
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- The Treasury - Australian Government
- ASAPP Information Group - India
- Ind-Barath Power Infra Limited - India
- Mjunction Services Limited - India
- Africa Commodities Group - South Africa
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Economic Council, Georgia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement PLC, Thailand
- ICICI Bank Limited - India
- Latin American Coal - Colombia
- Coal and Oil Company - UAE
- Jorong Barutama Greston.PT - Indonesia
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Dalmia Cement Bharat India
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Electricity Authority, New Zealand
- VISA Power Limited - India
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Coastal Gujarat Power Limited - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Parry Sugars Refinery, India
- Interocean Group of Companies - India
- Medco Energi Mining Internasional
- Cement Manufacturers Association - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- New Zealand Coal & Carbon
- PNOC Exploration Corporation - Philippines
- Tata Chemicals Ltd - India
- Lanco Infratech Ltd - India
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- Energy Link Ltd, New Zealand
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