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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, 29 July 22
GLOBAL COAL DEMAND IS SET TO RETURN TO ITS ALL-TIME HIGH IN 2022 - IEA
The world’s consumption of coal is set to rise slightly in 2022, taking it back to the record level it reached nearly a decade ago, according ...
Thursday, 28 July 22
CREW FAMILIARISATION IS CRITICAL WHEN TAKING OVER A VESSEL - WEST P&I CLUB
Knowledge to Elevate
When a vessel changes ownership and/or manager, it can take some considerable time before the new crew and mana ...
Thursday, 28 July 22
RETURN OF COAL A THREAT TO EUROPEAN COMPANIES' ESG RATINGS - REUTERS
European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them ...
Wednesday, 27 July 22
MARKET INSIGHT - INTERMODAL
Amid the upcoming ban on Russian coal from the EU, which will be in full effect on August 10th, EU nations have been accelerating their coal import ...
Tuesday, 26 July 22
CAP RUSSIA'S OIL PRICE NOW - PROJECT SYNDICATE
Though the price of oil has declined in recent weeks, it is still through the roof, filtering through to gasoline prices, and causing economic and ...
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- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Georgia Ports Authority, United States
- Wilmar Investment Holdings
- TeaM Sual Corporation - Philippines
- Borneo Indobara - Indonesia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- Global Green Power PLC Corporation, Philippines
- Semirara Mining Corp, Philippines
- SMC Global Power, Philippines
- San Jose City I Power Corp, Philippines
- Indogreen Group - Indonesia
- Vedanta Resources Plc - India
- Africa Commodities Group - South Africa
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Intertek Mineral Services - Indonesia
- Sical Logistics Limited - India
- Maheswari Brothers Coal Limited - India
- IHS Mccloskey Coal Group - USA
- Altura Mining Limited, Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mjunction Services Limited - India
- PNOC Exploration Corporation - Philippines
- Deloitte Consulting - India
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Therma Luzon, Inc, Philippines
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Latin American Coal - Colombia
- Australian Coal Association
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Barasentosa Lestari - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Holcim Trading Pte Ltd - Singapore
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Chamber of Mines of South Africa
- Bank of Tokyo Mitsubishi UFJ Ltd
- Riau Bara Harum - Indonesia
- Ministry of Finance - Indonesia
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- Medco Energi Mining Internasional
- White Energy Company Limited
- India Bulls Power Limited - India
- Coal and Oil Company - UAE
- Marubeni Corporation - India
- Kapuas Tunggal Persada - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bulk Trading Sa - Switzerland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Eastern Energy - Thailand
- Agrawal Coal Company - India
- Aditya Birla Group - India
- Central Electricity Authority - India
- Meralco Power Generation, Philippines
- Orica Australia Pty. Ltd.
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- The University of Queensland
- IEA Clean Coal Centre - UK
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Standard Chartered Bank - UAE
- Mercator Lines Limited - India
- Malabar Cements Ltd - India
- CNBM International Corporation - China
- Bhatia International Limited - India
- PTC India Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Indonesian Coal Mining Association
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- VISA Power Limited - India
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- Formosa Plastics Group - Taiwan
- Kartika Selabumi Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Bukit Asam (Persero) Tbk - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Eastern Coal Council - USA
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Kumho Petrochemical, South Korea
- Makarim & Taira - Indonesia
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- MS Steel International - UAE
- PowerSource Philippines DevCo
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Independent Power Producers Association of India
- Kalimantan Lumbung Energi - Indonesia
- Coastal Gujarat Power Limited - India
- Kaltim Prima Coal - Indonesia
- Tata Chemicals Ltd - India
- McConnell Dowell - Australia
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Indian Energy Exchange, India
- Lanco Infratech Ltd - India
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Uttam Galva Steels Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Savvy Resources Ltd - HongKong
- Offshore Bulk Terminal Pte Ltd, Singapore
- Pendopo Energi Batubara - Indonesia
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Thiess Contractors Indonesia
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Port Waratah Coal Services - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sindya Power Generating Company Private Ltd
- Global Business Power Corporation, Philippines
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Economic Council, Georgia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Essar Steel Hazira Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
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