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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, 19 July 22
WHY SHIPPING MIGHT BE ABOUT TO GET A LITTLE BIT SLOWER - WORLD ECONOMIC FORUM
If shipping is the beating heart of global trade, its pulse is about to get slower.
Faced with uncertainty about which fuels to use in the long ...
Tuesday, 19 July 22
GERMANY'S INCREASED COAL, OIL USE WILL BE TEMPORARY, SCHOLZ SAYS - CNBC
Chancellor Olaf Scholz says Germany’s decision to reactivate coal and oil-fired power plants to relieve energy shortages because of the war i ...
Tuesday, 19 July 22
INDONESIA REMOVES PALM OIL EXPORT LEVY UNTIL AUG. 31 - REUTERS
Indonesia has scrapped its export levy for all palm oil products until Aug. 31 in a fresh attempt to boost exports and ease high inventories, finan ...
Tuesday, 19 July 22
CHINA'S JUNE DAILY COAL OUTPUT JUMPS ON PEAK SUMMER DEMAND - REUTERS
China’s daily coal output in June rose 6.6 per cent from a month earlier as miners cranked up output ahead of peak summer temperatures, when ...
Tuesday, 19 July 22
SEEING RED? - WOOD MACKENZIE
What a Republican mid-term victory could mean for US energy and climate policy
According to current polling the Republican Party has ...
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- European Bulk Services B.V. - Netherlands
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- GAC Shipping (India) Pvt Ltd
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Posco Energy - South Korea
- Krishnapatnam Port Company Ltd. - India
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Ministry of Transport, Egypt
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Kumho Petrochemical, South Korea
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Indo Tambangraya Megah - Indonesia
- Rio Tinto Coal - Australia
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- Salva Resources Pvt Ltd - India
- Electricity Authority, New Zealand
- TNB Fuel Sdn Bhd - Malaysia
- IHS Mccloskey Coal Group - USA
- Aditya Birla Group - India
- Africa Commodities Group - South Africa
- Larsen & Toubro Limited - India
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- CIMB Investment Bank - Malaysia
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Barasentosa Lestari - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Kalimantan Lumbung Energi - Indonesia
- Sical Logistics Limited - India
- Eastern Coal Council - USA
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Goldman Sachs - Singapore
- White Energy Company Limited
- Parliament of New Zealand
- Baramulti Group, Indonesia
- Madhucon Powers Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- New Zealand Coal & Carbon
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bharathi Cement Corporation - India
- Standard Chartered Bank - UAE
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Kobexindo Tractors - Indoneisa
- Energy Link Ltd, New Zealand
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Mintek Dendrill Indonesia
- Lanco Infratech Ltd - India
- Binh Thuan Hamico - Vietnam
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dalmia Cement Bharat India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Marubeni Corporation - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Wood Mackenzie - Singapore
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Power Finance Corporation Ltd., India
- Intertek Mineral Services - Indonesia
- India Bulls Power Limited - India
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Mjunction Services Limited - India
- SMC Global Power, Philippines
- Star Paper Mills Limited - India
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- London Commodity Brokers - England
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Orica Mining Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Iligan Light & Power Inc, Philippines
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Wilmar Investment Holdings
- Minerals Council of Australia
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Port Waratah Coal Services - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- GMR Energy Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Energy Development Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Xindia Steels Limited - India
- Oldendorff Carriers - Singapore
- Price Waterhouse Coopers - Russia
- International Coal Ventures Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Independent Power Producers Association of India
- The University of Queensland
- GVK Power & Infra Limited - India
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thiess Contractors Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Deloitte Consulting - India
- Sojitz Corporation - Japan
- LBH Netherlands Bv - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Indika Energy - Indonesia
- Ambuja Cements Ltd - India
- Georgia Ports Authority, United States
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Coastal Gujarat Power Limited - India
- Indogreen Group - Indonesia
- Latin American Coal - Colombia
- TeaM Sual Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Rashtriya Ispat Nigam Limited - India
- IEA Clean Coal Centre - UK
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Planning Commission, India
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Pendopo Energi Batubara - Indonesia
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Manunggal Multi Energi - Indonesia
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