We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 28 April 09
S'PORE COURT RULES AGAINST DEUTSCHE ON ASSET SALE - REUTERS
Singapore's highest court has ruled that Deutsche Bank (DBKGn.DE) may have to pay unspecified damages to an investment firm as it did not get the best price for Indonesian assets that were sold in 2001 to settle a debt.
The case, which has its origins in the 1997/98 Asian financial crisis, involves a 40 percent stake in PT Adaro Energy (ADRO.JK), Indonesia's second-largest coal miner, and pits Germany's largest lender against Beckkett, a Singapore investment firm linked to Sukanto Tanoto, one of Indonesia's richest men.
The dispute involved claims and counterclaims in the tens of millions of dollars.
In a judgement on Monday, Singapore's Court of Appeal said Deutsche Bank did not take proper steps to sell a 74.2 percent stake in a firm called Swabara Mining at the best price. The shares had been pledged as security for a $100 million loan, court documents show.
The shares in Swabara, whose assets included the Adaro stake, belonged to Beckkett. The Swabara shares were sold by Deutsche for about $46 million to an investment firm linked to the Soeryadjayas, a wealthy Indonesian family.
The Singapore court ordered that Deutsche pay damages based on the valuation of the pledged shares, although it did not specify the amount. The compensation due to Beckkett will be assessed at a hearing before a registrar at a future date.
The court, however, also upheld Deutsche's claim that it suffered a loss of $86.9 million, which was the balance of the loan after the sale of the pledged shares plus interest and costs.
UBS analyst Andreas Bokkenheuser said in a note to clients on Tuesday the Singapore judgement created "an overhang" risk in that Beckkett's claim could be extended to Adaro.
The ruling may also delay an upcoming sale of a 17 percent stake in Adaro by a group of minority shareholders, UBS said.
Adaro's shares fell almost 2 percent on Tuesday after news of the judgement, versus a 1.3 percent gain in the Jakarta bourse .JKSE.
In a statement on Tuesday, Beckkett said the damages owed by Deutsche could be "in excess of $150 million" even after settling Deutsche's counterclaim in full.
Beckkett said it arrived at the figure after referencing Deutsche's own valuation of the assets held by Swabara.
Deutsche spokesman Michael West, however, described Beckkett's calculation as "entirely speculative".
"Beckkett has to still prove that it suffered a loss," Deutsche said in a statement. "Deutsche will present evidence for the first time to the court in support of its valuation of the shares" at the upcoming registrar's hearing, the bank said. (Additional reporting by Saeed Azhar; Editing by Neil Chatterjee & Ian Geoghegan)
Source: http://uk.reuters.com/article/oilRpt/idUKSIN46298020090428?pageNumber=2&virtualBrandChannel=0&sp=true
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 03 June 09
KOSEP SEEKS UP TO 3 MLN TONNES OF COAL - REUTERS
Korea South-East Power Co Ltd (KOSEP) has issued four tenders seeking a total of 3 million tonnes of coal for delivery between 2009 to 2011, a tende ...
Wednesday, 03 June 09
POWER DEMAND TO BOOST INDIA COAL IMPORTS DURING MONSOON - STEELGURU
Reuters quoted Indian coal importers said that strong demand for power in India is likely to keep coal imports at the maximum level possible in the ...
Wednesday, 03 June 09
NAPOCOR EXTENDS COAL TENDER FOR SOLE BIDDER - ABS CBNNEWS
National Power Corp. (Napocor), the top Philippine electricity producer, has given the lone bidder at a tender for 195,000 tons of coal more time to ...
Wednesday, 03 June 09
NEWCASTLE COAL EXPORTS JUMP 20 PERCENT; SHIP QUEUE LENGTHENS - BLOOMBERG
Coal exports from Australia’s Newcastle, the world’s biggest export harbor for the fuel, jumped 20 percent last week while the number of ...
Wednesday, 03 June 09
IPL-2 OVER, INDIAN COAL LEAGUE BEGINS IN SOUTH AFRICA - ECONOMICTIME
Steel, cement and power companies, which have traditionally relied on cheap Indonesian coal to fuel their factories, are rushing to buy South Africa ...
|
|
|
Showing 6711 to 6715 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Grasim Industreis Ltd - India
- Bukit Baiduri Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Renaissance Capital - South Africa
- PowerSource Philippines DevCo
- Mercator Lines Limited - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Kohat Cement Company Ltd. - Pakistan
- Leighton Contractors Pty Ltd - Australia
- Electricity Authority, New Zealand
- Directorate Of Revenue Intelligence - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Coastal Gujarat Power Limited - India
- Ministry of Finance - Indonesia
- Energy Development Corp, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Miang Besar Coal Terminal - Indonesia
- Jaiprakash Power Ventures ltd
- Economic Council, Georgia
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Chamber of Mines of South Africa
- Parliament of New Zealand
- Rio Tinto Coal - Australia
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- Kapuas Tunggal Persada - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Thiess Contractors Indonesia
- MS Steel International - UAE
- Binh Thuan Hamico - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhoruka Overseas - Indonesia
- CIMB Investment Bank - Malaysia
- Baramulti Group, Indonesia
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Ministry of Mines - Canada
- White Energy Company Limited
- Tamil Nadu electricity Board
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Sical Logistics Limited - India
- Port Waratah Coal Services - Australia
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- PNOC Exploration Corporation - Philippines
- Agrawal Coal Company - India
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- CNBM International Corporation - China
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- Orica Mining Services - Indonesia
- Ambuja Cements Ltd - India
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Minerals Council of Australia
- Kobexindo Tractors - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Indika Energy - Indonesia
- Indian Energy Exchange, India
- McConnell Dowell - Australia
- Meralco Power Generation, Philippines
- Indonesian Coal Mining Association
- Commonwealth Bank - Australia
- London Commodity Brokers - England
- Jindal Steel & Power Ltd - India
- Riau Bara Harum - Indonesia
- Planning Commission, India
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Essar Steel Hazira Ltd - India
- PTC India Limited - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- Standard Chartered Bank - UAE
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Petron Corporation, Philippines
- India Bulls Power Limited - India
- Power Finance Corporation Ltd., India
- The University of Queensland
- PetroVietnam Power Coal Import and Supply Company
- Coal and Oil Company - UAE
- Chettinad Cement Corporation Ltd - India
- GAC Shipping (India) Pvt Ltd
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Cigading International Bulk Terminal - Indonesia
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Iligan Light & Power Inc, Philippines
- Bukit Makmur.PT - Indonesia
- South Luzon Thermal Energy Corporation
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- AsiaOL BioFuels Corp., Philippines
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Savvy Resources Ltd - HongKong
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Sinarmas Energy and Mining - Indonesia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- VISA Power Limited - India
- Therma Luzon, Inc, Philippines
- Attock Cement Pakistan Limited
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Latin American Coal - Colombia
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Krishnapatnam Port Company Ltd. - India
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Eastern Energy - Thailand
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Sakthi Sugars Limited - India
- Central Electricity Authority - India
- Banpu Public Company Limited - Thailand
- Orica Australia Pty. Ltd.
- The State Trading Corporation of India Ltd
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Bhushan Steel Limited - India
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- SMC Global Power, Philippines
- Goldman Sachs - Singapore
- International Coal Ventures Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Australian Coal Association
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- Kumho Petrochemical, South Korea
- Indogreen Group - Indonesia
- Samtan Co., Ltd - South Korea
- TeaM Sual Corporation - Philippines
- Energy Link Ltd, New Zealand
- Medco Energi Mining Internasional
|
| |
| |
|
