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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, 22 July 22
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Tuesday, 19 July 22
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- Sree Jayajothi Cements Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Timah Investasi Mineral - Indoneisa
- PTC India Limited - India
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Grasim Industreis Ltd - India
- Salva Resources Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- GAC Shipping (India) Pvt Ltd
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- Power Finance Corporation Ltd., India
- Australian Coal Association
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Bhoruka Overseas - Indonesia
- IEA Clean Coal Centre - UK
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Siam City Cement PLC, Thailand
- Heidelberg Cement - Germany
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- Therma Luzon, Inc, Philippines
- Romanian Commodities Exchange
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Port Waratah Coal Services - Australia
- CIMB Investment Bank - Malaysia
- Merrill Lynch Commodities Europe
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Mintek Dendrill Indonesia
- Kartika Selabumi Mining - Indonesia
- Indonesian Coal Mining Association
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Wilmar Investment Holdings
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- Tata Chemicals Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Agrawal Coal Company - India
- ICICI Bank Limited - India
- Vizag Seaport Private Limited - India
- Uttam Galva Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- European Bulk Services B.V. - Netherlands
- Essar Steel Hazira Ltd - India
- Antam Resourcindo - Indonesia
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- Aboitiz Power Corporation - Philippines
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- Latin American Coal - Colombia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petrochimia International Co. Ltd.- Taiwan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Barasentosa Lestari - Indonesia
- Xindia Steels Limited - India
- Meralco Power Generation, Philippines
- Electricity Generating Authority of Thailand
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Global Green Power PLC Corporation, Philippines
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Minerals Council of Australia
- Deloitte Consulting - India
- Intertek Mineral Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Banpu Public Company Limited - Thailand
- Chamber of Mines of South Africa
- Samtan Co., Ltd - South Korea
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- Tamil Nadu electricity Board
- Globalindo Alam Lestari - Indonesia
- Pendopo Energi Batubara - Indonesia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- The University of Queensland
- Posco Energy - South Korea
- Parry Sugars Refinery, India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ministry of Mines - Canada
- Rio Tinto Coal - Australia
- Karbindo Abesyapradhi - Indoneisa
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- VISA Power Limited - India
- Carbofer General Trading SA - India
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- Ceylon Electricity Board - Sri Lanka
- Indian Oil Corporation Limited
- Kumho Petrochemical, South Korea
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indogreen Group - Indonesia
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Sinarmas Energy and Mining - Indonesia
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- White Energy Company Limited
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- Mercuria Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Mjunction Services Limited - India
- Electricity Authority, New Zealand
- ASAPP Information Group - India
- Indika Energy - Indonesia
- McConnell Dowell - Australia
- OPG Power Generation Pvt Ltd - India
- Goldman Sachs - Singapore
- The Treasury - Australian Government
- Makarim & Taira - Indonesia
- Siam City Cement - Thailand
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Orica Australia Pty. Ltd.
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Mercator Lines Limited - India
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Transport, Egypt
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
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