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, 01 April 09
COAL FIRMS' PROFITS NOT EXPECTED TO GROW IN '09 - - THE JAKARTA POST (ANALYSTS)
Despite their windfall profits in 2008, analysts doubt that PT Bumi Resources Tbk or any other coal firms will post profit growth this year, with pr ...
Tuesday, 31 March 09
DEUTSCHE BANK TO ADD COAL, GAS, SHIPPING IN COMMODITY EXPANSION - BLOOMBERG
Deutsche Bank AG, after quadrupling revenue from commodities in two years, plans to add coal, European natural-gas and shipping to its business, ant ...
Monday, 30 March 09
CHINA SHENHUA SAYS AGREES DOMESTIC COAL DEALS - REUTERS
Chinese coal mining giant China Shenhua Energy Co has agreed long-term contracts with some Chinese power producers, its President Ling Wen said on M ...
Sunday, 29 March 09
SHENHUA ENERGY 2008 NET RISES 29% TO RECORD ON PRICES - BLOOMBERG
China Shenhua Energy Co Ltd., the nation’s biggest coal producer, said profit rose 29 percent to a record in 2008 after it increased productio ...
Friday, 27 March 09
SOUTH AFRICAN COAL EXPORTS EXPECTED TO RISE IN 2009, BUT RAIL WILL DETERMINE BY HOW MUCH - MININGWEEKLY
South Africa has an expanding coal-export terminal, but an uncertain rail capacity.
The mismatch is something South Africa cannot afford, given i ...
|
|
|
Showing 6821 to 6825 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Planning Commission, India
- Mjunction Services Limited - India
- Toyota Tsusho Corporation, Japan
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- McConnell Dowell - Australia
- Renaissance Capital - South Africa
- Sarangani Energy Corporation, Philippines
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Gujarat Electricity Regulatory Commission - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Trasteel International SA, Italy
- Gujarat Sidhee Cement - India
- Riau Bara Harum - Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Economic Council, Georgia
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Formosa Plastics Group - Taiwan
- Global Green Power PLC Corporation, Philippines
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Africa Commodities Group - South Africa
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Heidelberg Cement - Germany
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Posco Energy - South Korea
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ministry of Transport, Egypt
- GMR Energy Limited - India
- Wood Mackenzie - Singapore
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Interocean Group of Companies - India
- Grasim Industreis Ltd - India
- European Bulk Services B.V. - Netherlands
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- MS Steel International - UAE
- Rio Tinto Coal - Australia
- Vedanta Resources Plc - India
- Thiess Contractors Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Ministry of Mines - Canada
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Rashtriya Ispat Nigam Limited - India
- Australian Commodity Traders Exchange
- New Zealand Coal & Carbon
- Baramulti Group, Indonesia
- Mercator Lines Limited - India
- Borneo Indobara - Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- AsiaOL BioFuels Corp., Philippines
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Parliament of New Zealand
- GVK Power & Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- PTC India Limited - India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Savvy Resources Ltd - HongKong
- Salva Resources Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Indo Tambangraya Megah - Indonesia
- Standard Chartered Bank - UAE
- Sical Logistics Limited - India
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Minerals Council of Australia
- Parry Sugars Refinery, India
- Larsen & Toubro Limited - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Holcim Trading Pte Ltd - Singapore
- Jindal Steel & Power Ltd - India
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Orica Mining Services - Indonesia
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Therma Luzon, Inc, Philippines
- Indika Energy - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Agrawal Coal Company - India
- Directorate Of Revenue Intelligence - India
- Bhushan Steel Limited - India
- Ministry of Finance - Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Authority, New Zealand
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- LBH Netherlands Bv - Netherlands
- Bukit Baiduri Energy - Indonesia
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Price Waterhouse Coopers - Russia
- Port Waratah Coal Services - Australia
- San Jose City I Power Corp, Philippines
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Barasentosa Lestari - Indonesia
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Maharashtra Electricity Regulatory Commission - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Iligan Light & Power Inc, Philippines
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Goldman Sachs - Singapore
- Karaikal Port Pvt Ltd - India
- PowerSource Philippines DevCo
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- SN Aboitiz Power Inc, Philippines
- Deloitte Consulting - India
- Leighton Contractors Pty Ltd - Australia
- India Bulls Power Limited - India
- Wilmar Investment Holdings
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- VISA Power Limited - India
- Romanian Commodities Exchange
- Kohat Cement Company Ltd. - Pakistan
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Meralco Power Generation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Power Finance Corporation Ltd., India
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- CIMB Investment Bank - Malaysia
- Kartika Selabumi Mining - Indonesia
- Mintek Dendrill Indonesia
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Energy Link Ltd, New Zealand
- Star Paper Mills Limited - India
- IEA Clean Coal Centre - UK
- PNOC Exploration Corporation - Philippines
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- CNBM International Corporation - China
- Thai Mozambique Logistica
- Gujarat Mineral Development Corp Ltd - India
|
| |
| |
|
