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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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Wednesday, 17 August 22
PAXOCEAN, HONG LAM MARINE AND BUREAU VERITAS SIGN MOU TO DEVELOP AMMONIA BUNKER VESSEL DESIGN - BUREAU VERITAS
PaxOcean Engineering Pte. Ltd. has signed a Memorandum of Understanding (MOU) with Singapore-based bunker vessel operator Hong Lam Marine and class ...
Wednesday, 17 August 22
GOODFUELSS ASIA-PACIFIC BRANCH KICKSTARTS SUSTAINABLE BIOFUEL DELIVERIES WITH NYK AS FIRST CLIENT - GOOD FUELS
GoodFuels, the leading biofuels pioneer for the global transport industry, has today announced that it has successfully supplied sustainable marine ...
Tuesday, 16 August 22
EU BAN ON RUSSIAN COAL IMPORTS COMES INTO FORCE - DEUTSCHE WELLE
The European Union banned Russian coal imports in response to the invasion of Ukraine as part of sanctions in April. Since then, it’s been sc ...
Thursday, 11 August 22
MARKET INSIGHT - INTERMODAL
On July 22nd, Ukraine signed a deal with Russia to release 22mn tons of grain from Ukraine’s 3 major ports (Yuzhny, Chornomorsk, Odesa). Such ...
Wednesday, 10 August 22
THE FUTURE OF COAL: EIGHT KEY THEMES FROM THE GLOBAL COAL FORUM - WOOD MACKENZIE
Coal investors face a multi-layered and unavoidable challenge: markets distorted by war, trade constraints and the existential threat of the energy ...
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- Semirara Mining and Power Corporation, Philippines
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- CNBM International Corporation - China
- Port Waratah Coal Services - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- ASAPP Information Group - India
- Sinarmas Energy and Mining - Indonesia
- Latin American Coal - Colombia
- Coastal Gujarat Power Limited - India
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Anglo American - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Jindal Steel & Power Ltd - India
- Intertek Mineral Services - Indonesia
- Economic Council, Georgia
- The State Trading Corporation of India Ltd
- Therma Luzon, Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Karbindo Abesyapradhi - Indoneisa
- Uttam Galva Steels Limited - India
- Ministry of Transport, Egypt
- Global Business Power Corporation, Philippines
- Sojitz Corporation - Japan
- Energy Link Ltd, New Zealand
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Mjunction Services Limited - India
- Mercator Lines Limited - India
- AsiaOL BioFuels Corp., Philippines
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Bangladesh Power Developement Board
- Bukit Makmur.PT - Indonesia
- Africa Commodities Group - South Africa
- San Jose City I Power Corp, Philippines
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Parry Sugars Refinery, India
- Electricity Authority, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Georgia Ports Authority, United States
- Trasteel International SA, Italy
- Ministry of Mines - Canada
- TeaM Sual Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Jorong Barutama Greston.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Grasim Industreis Ltd - India
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Bayan Resources Tbk. - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Coal Blending Company Limited - Australia
- MS Steel International - UAE
- International Coal Ventures Pvt Ltd - India
- Commonwealth Bank - Australia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Indogreen Group - Indonesia
- The Treasury - Australian Government
- Sical Logistics Limited - India
- Tamil Nadu electricity Board
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Heidelberg Cement - Germany
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Lanco Infratech Ltd - India
- Directorate Of Revenue Intelligence - India
- GN Power Mariveles Coal Plant, Philippines
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- Planning Commission, India
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Coalindo Energy - Indonesia
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- SMC Global Power, Philippines
- Semirara Mining Corp, Philippines
- Kaltim Prima Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- ICICI Bank Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Agrawal Coal Company - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Meenaskhi Energy Private Limited - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- Kalimantan Lumbung Energi - Indonesia
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Aditya Birla Group - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- PTC India Limited - India
- Videocon Industries ltd - India
- Straits Asia Resources Limited - Singapore
- GAC Shipping (India) Pvt Ltd
- Kideco Jaya Agung - Indonesia
- Formosa Plastics Group - Taiwan
- The University of Queensland
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- South Luzon Thermal Energy Corporation
- GMR Energy Limited - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Meralco Power Generation, Philippines
- Malabar Cements Ltd - India
- Simpson Spence & Young - Indonesia
- Marubeni Corporation - India
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Wood Mackenzie - Singapore
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Thiess Contractors Indonesia
- Iligan Light & Power Inc, Philippines
- Coal and Oil Company - UAE
- Ind-Barath Power Infra Limited - India
- London Commodity Brokers - England
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Siam City Cement - Thailand
- PetroVietnam Power Coal Import and Supply Company
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Toyota Tsusho Corporation, Japan
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Carbofer General Trading SA - India
- Alfred C Toepfer International GmbH - Germany
- Eastern Energy - Thailand
- Mercuria Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Riau Bara Harum - Indonesia
- Pendopo Energi Batubara - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Power Finance Corporation Ltd., India
- Bukit Baiduri Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Indonesian Coal Mining Association
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- Edison Trading Spa - Italy
- Petron Corporation, Philippines
- SN Aboitiz Power Inc, Philippines
- Cement Manufacturers Association - India
- White Energy Company Limited
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- VISA Power Limited - India
- Kumho Petrochemical, South Korea
- Ceylon Electricity Board - Sri Lanka
- Vizag Seaport Private Limited - India
- Dalmia Cement Bharat India
- Tata Chemicals Ltd - India
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