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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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Thursday, 30 June 22
WHY ARE LNG SHIPPING STOCKS RESILIENT? - DREWRY
LNG shipping stocks are proving resilient despite uncertainties about growth in global GDP, high inflation and the ongoing geopolitical crisis caus ...
Thursday, 30 June 22
SPOT AUSTRALIAN THERMAL COAL HAS SURGED, BUT CONTRACT PRICE IS KEY - REUTERS
The spot price of Australian thermal coal is higher than that of coking coal, an unprecedented situation that highlights just how the global market ...
Thursday, 30 June 22
SHANXI PROVINCE RAISES ANNUAL COAL OUTPUT TO 1.3 BILLION TONS TO ENSURE CHINA’S ENERGY SUPPLY - GLOBAL TIMES
North China’s Shanxi Province, a major coal-producing region, recently announced a move to increase its annual coal production output by 107 ...
Thursday, 30 June 22
DIVERGENCE BETWEEN HIGH- AND LOW-GRADE THERMAL COAL PRICES IN APAC TO NARROW - FITCH RATINGS
Prices between high- and low-grade thermal coal in Asia-Pacific (APAC) have diverged since late March 2022, but Fitch Ratings expects the gap to na ...
Thursday, 30 June 22
INVESTMENT IN GLOBAL COAL SUPPLY CHAIN TO HIT $115 BN IN 2022, LED BY CHINA AND INDIA - BUSINESS LINE
At over $80 billion, China and India are anticipated to make up the bulk of global coal investment in 2022, says IEA.
The investment ...
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- Sojitz Corporation - Japan
- Oldendorff Carriers - Singapore
- Attock Cement Pakistan Limited
- Gujarat Electricity Regulatory Commission - India
- Deloitte Consulting - India
- Port Waratah Coal Services - Australia
- Miang Besar Coal Terminal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Ministry of Mines - Canada
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Ambuja Cements Ltd - India
- The State Trading Corporation of India Ltd
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Bulk Trading Sa - Switzerland
- Jaiprakash Power Ventures ltd
- Interocean Group of Companies - India
- Banpu Public Company Limited - Thailand
- Ministry of Transport, Egypt
- Mjunction Services Limited - India
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Antam Resourcindo - Indonesia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- IHS Mccloskey Coal Group - USA
- VISA Power Limited - India
- Jindal Steel & Power Ltd - India
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Gujarat Sidhee Cement - India
- OPG Power Generation Pvt Ltd - India
- Larsen & Toubro Limited - India
- ASAPP Information Group - India
- South Luzon Thermal Energy Corporation
- Electricity Generating Authority of Thailand
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Merrill Lynch Commodities Europe
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- The Treasury - Australian Government
- Price Waterhouse Coopers - Russia
- Parry Sugars Refinery, India
- GN Power Mariveles Coal Plant, Philippines
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Vizag Seaport Private Limited - India
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- LBH Netherlands Bv - Netherlands
- International Coal Ventures Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Cement Manufacturers Association - India
- Independent Power Producers Association of India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Heidelberg Cement - Germany
- Carbofer General Trading SA - India
- Directorate General of MIneral and Coal - Indonesia
- Meralco Power Generation, Philippines
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Parliament of New Zealand
- Singapore Mercantile Exchange
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- GVK Power & Infra Limited - India
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhoruka Overseas - Indonesia
- Lanco Infratech Ltd - India
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Coastal Gujarat Power Limited - India
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Intertek Mineral Services - Indonesia
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
- Bukit Baiduri Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Toyota Tsusho Corporation, Japan
- Binh Thuan Hamico - Vietnam
- Thiess Contractors Indonesia
- Australian Coal Association
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Iligan Light & Power Inc, Philippines
- Wood Mackenzie - Singapore
- The University of Queensland
- Vedanta Resources Plc - India
- Energy Link Ltd, New Zealand
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- ICICI Bank Limited - India
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- PTC India Limited - India
- SN Aboitiz Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Petrochimia International Co. Ltd.- Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Indika Energy - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Maharashtra Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Videocon Industries ltd - India
- Bhushan Steel Limited - India
- Minerals Council of Australia
- Goldman Sachs - Singapore
- Malabar Cements Ltd - India
- Planning Commission, India
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Tamil Nadu electricity Board
- Mercator Lines Limited - India
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Edison Trading Spa - Italy
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- Bharathi Cement Corporation - India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Meenaskhi Energy Private Limited - India
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- CNBM International Corporation - China
- Kapuas Tunggal Persada - Indonesia
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