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Wednesday, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
 Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected the appeal by Churchill/Ridlatama, according to a statement posted on company's website.
The statement further said,
1. The notations only provide an indication as to what the Supreme Court's decision will be and are not the same as the Supreme Court handing down its decision.
2. Until the Supreme Court hands down its decision there is no binding and enforceable judgment. The 'handing down' is when the Supreme Court provides its written judgment. The Company does not know when this will happen.
The appeal was launched to overturn the decision by the Administrative Tribunal in Samarinda, East Kalimantan in relation to the revocation of the four mining licenses that comprise the East Kutai Coal Project (Churchill 75% interest).
Churchill Mining’s Chairman, David Quinlivan commented, “It’s disappointing to see this notation on the case register. We are determined to continue to seek a legitimate remedy for our shareholders and protect our rights as a foreign investor in Indonesia.”
When further information is available, the Company will provide an update on the Supreme Court's decision and, as appropriate, its steps in relation to the Civil Review of that decision, the statement further said.
International Arbitration under the United Kingdom - Indonesia Bilateral Investment Treaty
Churchill will now look to accelerate the filing of its claim at the International Centre for Settlement of Investment Disputes in Washington D.C. against the Republic of Indonesia. The Company has not received any response to its formal letter sent 22 November, 2011 to the Republic of Indonesia seeking an amicable and commercial resolution.
The letter highlighted that following a significant investment in exploration, Churchill identified a world class thermal coal deposit in East Kalimantan, only to be subjected to a sustained campaign designed to expropriate Churchill’s legitimate rights to develop this deposit.
The Company will now move its attention to preparing and filing a claim against the Republic of Indonesia for direct breaches of Indonesia’s investment laws and Indonesia’s obligations under international investment treaties.
The Company’s solicitors are already well advanced in the claim preparation and expect to file the Request for Arbitration shortly.
Source:Churchill Mining
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Tuesday, 22 May 12
NEW ONE-YEAR TIME CHARTERS FOR TWO VESSELS OF EXCEL MARITIME CARRIERS LTD.
Excel Maritime Carriers Ltd. (NYSE: EXM), an owner and operator of dry bulk carriers and an international provider of worldwide seaborne transportat ...
Tuesday, 22 May 12
DRY BULK MARKET STEADY, AWAITING FURTHER RISE IN DEMAND WHICH IS DOUBTFUL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Traditionally, the second and third quarters of the year are the strongest for the dry bulk market, but this year, things seem to be quite subdued, ...
Sunday, 20 May 12
SPOT FREIGHT RATE DIPS FURTHER - VISTAAR
COALspot.com - The BDI was marginally up by 3 points (0.26 pct) closing at 1,141 points.
The cape index was up by 1.17 pct closing at 1,633 point ...
Saturday, 19 May 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP US$ 2.88 PMT W-O-W
COALspot.com - Indonesian sub-bituminous coal swaps and CFR South China coal contracts for June deliveries have drops this week by 3.86 percent and& ...
Saturday, 19 May 12
INDONESIAN EXPORT TAX GIVES COAL MINERS A CHEAP RIDE: ANALYSTS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Indonesia’s policy to exclude coal from an export tax that has been applied to 14 other mineral commodities h ...
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- Manunggal Multi Energi - Indonesia
- Ministry of Finance - Indonesia
- Banpu Public Company Limited - Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Jaiprakash Power Ventures ltd
- South Luzon Thermal Energy Corporation
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- India Bulls Power Limited - India
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Uttam Galva Steels Limited - India
- White Energy Company Limited
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Sical Logistics Limited - India
- Malabar Cements Ltd - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- PTC India Limited - India
- Kobexindo Tractors - Indoneisa
- Romanian Commodities Exchange
- Siam City Cement PLC, Thailand
- Thiess Contractors Indonesia
- Edison Trading Spa - Italy
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Medco Energi Mining Internasional
- Coal and Oil Company - UAE
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- Semirara Mining Corp, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indogreen Group - Indonesia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Aboitiz Power Corporation - Philippines
- Ceylon Electricity Board - Sri Lanka
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- ICICI Bank Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Ministry of Mines - Canada
- Maheswari Brothers Coal Limited - India
- Bharathi Cement Corporation - India
- Heidelberg Cement - Germany
- Madhucon Powers Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Karaikal Port Pvt Ltd - India
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- Therma Luzon, Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Leighton Contractors Pty Ltd - Australia
- Barasentosa Lestari - Indonesia
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petron Corporation, Philippines
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Bukit Makmur.PT - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Economic Council, Georgia
- Bhatia International Limited - India
- Price Waterhouse Coopers - Russia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Latin American Coal - Colombia
- Meenaskhi Energy Private Limited - India
- The Treasury - Australian Government
- SMG Consultants - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Power Finance Corporation Ltd., India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Eastern Coal Council - USA
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Pendopo Energi Batubara - Indonesia
- Central Java Power - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Planning Commission, India
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Indika Energy - Indonesia
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Borneo Indobara - Indonesia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- The University of Queensland
- Tamil Nadu electricity Board
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Globalindo Alam Lestari - Indonesia
- IEA Clean Coal Centre - UK
- Indian Energy Exchange, India
- Ind-Barath Power Infra Limited - India
- Gujarat Electricity Regulatory Commission - India
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- Mintek Dendrill Indonesia
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Sindya Power Generating Company Private Ltd
- ASAPP Information Group - India
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Australian Coal Association
- Lanco Infratech Ltd - India
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Sakthi Sugars Limited - India
- PowerSource Philippines DevCo
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Directorate General of MIneral and Coal - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Kideco Jaya Agung - Indonesia
- Metalloyd Limited - United Kingdom
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Vedanta Resources Plc - India
- Minerals Council of Australia
- Oldendorff Carriers - Singapore
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- AsiaOL BioFuels Corp., Philippines
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Parliament of New Zealand
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
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