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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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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 ...
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- PNOC Exploration Corporation - Philippines
- The University of Queensland
- London Commodity Brokers - England
- Pipit Mutiara Jaya. PT, Indonesia
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- European Bulk Services B.V. - Netherlands
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- Formosa Plastics Group - Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Petron Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- PowerSource Philippines DevCo
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Riau Bara Harum - Indonesia
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Indian Energy Exchange, India
- Parliament of New Zealand
- Pendopo Energi Batubara - Indonesia
- Goldman Sachs - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Mercuria Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Edison Trading Spa - Italy
- Sree Jayajothi Cements Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Holcim Trading Pte Ltd - Singapore
- Mjunction Services Limited - India
- The Treasury - Australian Government
- The State Trading Corporation of India Ltd
- Merrill Lynch Commodities Europe
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Agrawal Coal Company - India
- Bukit Asam (Persero) Tbk - Indonesia
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Oldendorff Carriers - Singapore
- Kumho Petrochemical, South Korea
- Vizag Seaport Private Limited - India
- Intertek Mineral Services - Indonesia
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- AsiaOL BioFuels Corp., Philippines
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- New Zealand Coal & Carbon
- Bank of Tokyo Mitsubishi UFJ Ltd
- Eastern Coal Council - USA
- Anglo American - United Kingdom
- Jaiprakash Power Ventures ltd
- Sindya Power Generating Company Private Ltd
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Indonesian Coal Mining Association
- Kepco SPC Power Corporation, Philippines
- Singapore Mercantile Exchange
- SMC Global Power, Philippines
- Karaikal Port Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Aboitiz Power Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Mintek Dendrill Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Price Waterhouse Coopers - Russia
- Ind-Barath Power Infra Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Medco Energi Mining Internasional
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bulk Trading Sa - Switzerland
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- India Bulls Power Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Thiess Contractors Indonesia
- Aditya Birla Group - India
- Madhucon Powers Ltd - India
- Malabar Cements Ltd - India
- Electricity Generating Authority of Thailand
- GAC Shipping (India) Pvt Ltd
- CNBM International Corporation - China
- Indian Oil Corporation Limited
- South Luzon Thermal Energy Corporation
- Indogreen Group - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Miang Besar Coal Terminal - Indonesia
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Latin American Coal - Colombia
- Cigading International Bulk Terminal - Indonesia
- Romanian Commodities Exchange
- International Coal Ventures Pvt Ltd - India
- Therma Luzon, Inc, Philippines
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Star Paper Mills Limited - India
- Cement Manufacturers Association - India
- Posco Energy - South Korea
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Central Java Power - Indonesia
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Baramulti Group, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Africa Commodities Group - South Africa
- MS Steel International - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bukit Makmur.PT - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Central Electricity Authority - India
- Bhushan Steel Limited - India
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Makarim & Taira - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Meralco Power Generation, Philippines
- ICICI Bank Limited - India
- Australian Coal Association
- Ambuja Cements Ltd - India
- Grasim Industreis Ltd - India
- Ministry of Mines - Canada
- Siam City Cement PLC, Thailand
- Ministry of Transport, Egypt
- Jorong Barutama Greston.PT - Indonesia
- SN Aboitiz Power Inc, Philippines
- Vedanta Resources Plc - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- White Energy Company Limited
- Wood Mackenzie - Singapore
- IHS Mccloskey Coal Group - USA
- Chettinad Cement Corporation Ltd - India
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Carbofer General Trading SA - India
- Trasteel International SA, Italy
- Economic Council, Georgia
- Videocon Industries ltd - India
- Orica Australia Pty. Ltd.
- Petrochimia International Co. Ltd.- Taiwan
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Independent Power Producers Association of India
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Coalindo Energy - Indonesia
- Coal and Oil Company - UAE
- Manunggal Multi Energi - Indonesia
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