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Friday, 17 April 09
BHATIA COAL INDIA, VITOL IN DISPUTE - COAL JUNCTION
Bhatia Coal India, a subsidiary of the Bhatia International Group, terminated a coal supply contract with traders Vitol and has initiated arbitration proceedings to settle a payment dispute, according to Bhatia officials.
The arbitration hearings will be held in London during the next few months and will be subject to English law, officials added. They were unable to give more details such as the amount of coal or money involved because the matter is sub judice.
Vitol declined to comment. The amount in dispute that is owed to Vitol is in excess of $50 million, according to a source close to the developments. "We cancelled the contract so there is no non-performance on Bhatia's part," a senior Bhatia official said.
A source close to the issue said Bhatia cancelled the contract in order to avoid loading South African coal cargoes in every quarter this year which were bought in 2008 as part of an annual supply deal when prices were over 70 percent higher than present levels.
It has become the norm in coal trading - as it has been for many years in oil - for companies which have both sales and purchases with each other to simplify settlement by "washing-out" several deals so that the party which owes money overall makes a single payment.
There has been a rash of arbitration cases to settle disputes between Indian traders who did not perform on coal contracts signed before the plunge in prices last September and international suppliers. In many instances, suppliers said they have re-negotiated prices and re-scheduled deliveries to Indian buyers instead of going to arbitration.
Source:http://coaljunction.in/market_news/bhatia_coal_india_vitol_in_dis.php
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Thursday, 04 June 09
CHINA QINHUANGDAO COAL STOCK JUMPS BY 36.2% MOM - STEELGURU
SteelGuru reported that, Sources indicated that, coal stock at Qinhuangdao port, China's major coal port has reached 4.88 million tonnes increasing ...
Thursday, 04 June 09
ASIA COAL - PRICES RISE TO 31/2 MTH HIGH ON OIL, ECONOMY - INTERACTIVE INVESTOR
Interactive Investor reported that, Prices of power-station coal from Australia, a benchmark for Asia, rose to a three-and-a-half-month high of over ...
Thursday, 04 June 09
PTT: RESTRUCTURING BUSINESS, DIVERSIFYING INTO COAL - EASYBOURSE
Thailand's largest energy conglomerate, PTT PCL (PTT.TH), will diversify into coal as part of its business restructuring, Senior Executive Vice Pre ...
Thursday, 04 June 09
ADARO SECURES THREE NEW CONTRACTS, SAYS OUTLOOK POSITIVE - THE JAKARTA POST
Publicly listed PT Adaro Energy, the country's second largest coal miner, announced Wednesday it had secured three new coal contracts from buyers f ...
Wednesday, 03 June 09
XSTRATA, KOMIPO AGREE SOME '09 COAL TONNAGE AT $63/T- REUTERS
South Korean utility Korea Midland Power Co (KOMIPO) has agreed to buy part of its 2009 term contract tonnage from Xstrata's coal unit at about $63 ...
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Port Waratah Coal Services - Australia
- Bulk Trading Sa - Switzerland
- Bukit Makmur.PT - Indonesia
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Rashtriya Ispat Nigam Limited - India
- Semirara Mining and Power Corporation, Philippines
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Directorate Of Revenue Intelligence - India
- Riau Bara Harum - Indonesia
- The University of Queensland
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- Medco Energi Mining Internasional
- Samtan Co., Ltd - South Korea
- IEA Clean Coal Centre - UK
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Minerals Council of Australia
- ASAPP Information Group - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- Heidelberg Cement - Germany
- PTC India Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- GAC Shipping (India) Pvt Ltd
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Thiess Contractors Indonesia
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- LBH Netherlands Bv - Netherlands
- Essar Steel Hazira Ltd - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Karaikal Port Pvt Ltd - India
- Economic Council, Georgia
- Jindal Steel & Power Ltd - India
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Siam City Cement PLC, Thailand
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wilmar Investment Holdings
- Planning Commission, India
- Sojitz Corporation - Japan
- Bank of Tokyo Mitsubishi UFJ Ltd
- Kapuas Tunggal Persada - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Chamber of Mines of South Africa
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Wood Mackenzie - Singapore
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Tamil Nadu electricity Board
- Romanian Commodities Exchange
- The State Trading Corporation of India Ltd
- Ceylon Electricity Board - Sri Lanka
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sinarmas Energy and Mining - Indonesia
- Interocean Group of Companies - India
- White Energy Company Limited
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Indian Energy Exchange, India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Central Java Power - Indonesia
- Agrawal Coal Company - India
- International Coal Ventures Pvt Ltd - India
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bangladesh Power Developement Board
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Timah Investasi Mineral - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Lanco Infratech Ltd - India
- Videocon Industries ltd - India
- Cigading International Bulk Terminal - Indonesia
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Banpu Public Company Limited - Thailand
- Ind-Barath Power Infra Limited - India
- Meralco Power Generation, Philippines
- Binh Thuan Hamico - Vietnam
- Kobexindo Tractors - Indoneisa
- Carbofer General Trading SA - India
- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- CNBM International Corporation - China
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- Standard Chartered Bank - UAE
- Africa Commodities Group - South Africa
- Siam City Cement - Thailand
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Maheswari Brothers Coal Limited - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- European Bulk Services B.V. - Netherlands
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Kalimantan Lumbung Energi - Indonesia
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Trasteel International SA, Italy
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Thai Mozambique Logistica
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Semirara Mining Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
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