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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 $50 million, according to a source close to the developments. "We cancelled the contract so there is no non-performance on Bhatia's part," a senior Bhatia official said.
A source close to the issue said Bhatia cancelled the contract in order to avoid loading South African coal cargoes in every quarter this year which were bought in 2008 as part of an annual supply deal when prices were over 70 percent higher than present levels.
It has become the norm in coal trading - as it has been for many years in oil - for companies which have both sales and purchases with each other to simplify settlement by "washing-out" several deals so that the party which owes money overall makes a single payment.
There has been a rash of arbitration cases to settle disputes between Indian traders who did not perform on coal contracts signed before the plunge in prices last September and international suppliers. In many instances, suppliers said they have re-negotiated prices and re-scheduled deliveries to Indian buyers instead of going to arbitration.
Source:http://coaljunction.in/market_news/bhatia_coal_india_vitol_in_dis.php
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Wednesday, 03 June 09
BUILDING A ROAD TO LINK 3 GIANTS - THE JAKARTA GLOBE
Madhu Koneru is building a road to the future that will bring together the financial heft of the Middle East, the technological know-how of a rising ...
Tuesday, 02 June 09
GOVT FINALIZING DMO MECHANISM, REFERENCE PRICE FOR COAL - THE JAKARTA POST
Indonesia, the world's largest thermal coal exporter, is finalizing regulations on a reference price on coal, on a domestic market obligation (DMO) ...
Tuesday, 02 June 09
CHINA OVERSEAS COAL DEMAND TO STAY BUOYANT-MINERS (REUTERS)
China's demand for overseas coal is expected to stay strong in the second half as long as prices of imported coal maintain a discount to domestic p ...
Tuesday, 02 June 09
INDONESIA'S COAL EXPORTS REACH US$ 3.44 BILLION SO FAR THIS YEAR - TRADINGCHARTS
Indonesia`s coal exports in the January-April 2009 period increased by 21.31 per cent to US$3.44 billion compared to US$2.83 billion in the same per ...
Tuesday, 02 June 09
INDONESIA'S BUKIT ASAM AGREES HIGHER COAL PRICES - REUTERS
Indonesian state coal miner PT Bukit Asam Tbk said it has agreed coal prices for two power plants owned by state electricity firm PT Perusahaan List ...
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- SN Aboitiz Power Inc, Philippines
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- CNBM International Corporation - China
- Krishnapatnam Port Company Ltd. - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Essar Steel Hazira Ltd - India
- Toyota Tsusho Corporation, Japan
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Port Waratah Coal Services - Australia
- GN Power Mariveles Coal Plant, Philippines
- Jaiprakash Power Ventures ltd
- Kohat Cement Company Ltd. - Pakistan
- GMR Energy Limited - India
- IEA Clean Coal Centre - UK
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sakthi Sugars Limited - India
- Ministry of Finance - Indonesia
- Makarim & Taira - Indonesia
- Sojitz Corporation - Japan
- Gujarat Electricity Regulatory Commission - India
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Siam City Cement - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Coal and Oil Company - UAE
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Altura Mining Limited, Indonesia
- San Jose City I Power Corp, Philippines
- Goldman Sachs - Singapore
- Eastern Energy - Thailand
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- MS Steel International - UAE
- Meralco Power Generation, Philippines
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Bharathi Cement Corporation - India
- Videocon Industries ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Indo Tambangraya Megah - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- Gujarat Mineral Development Corp Ltd - India
- Central Electricity Authority - India
- Sarangani Energy Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Semirara Mining Corp, Philippines
- Global Business Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Edison Trading Spa - Italy
- Commonwealth Bank - Australia
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- OPG Power Generation Pvt Ltd - India
- Economic Council, Georgia
- Sindya Power Generating Company Private Ltd
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- The Treasury - Australian Government
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- PowerSource Philippines DevCo
- Bukit Baiduri Energy - Indonesia
- Interocean Group of Companies - India
- Bukit Asam (Persero) Tbk - Indonesia
- Malabar Cements Ltd - India
- Iligan Light & Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- European Bulk Services B.V. - Netherlands
- Aboitiz Power Corporation - Philippines
- Oldendorff Carriers - Singapore
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- India Bulls Power Limited - India
- Kaltim Prima Coal - Indonesia
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Indonesian Coal Mining Association
- Alfred C Toepfer International GmbH - Germany
- Billiton Holdings Pty Ltd - Australia
- TeaM Sual Corporation - Philippines
- Banpu Public Company Limited - Thailand
- ASAPP Information Group - India
- Chamber of Mines of South Africa
- Pipit Mutiara Jaya. PT, Indonesia
- Kartika Selabumi Mining - Indonesia
- Parry Sugars Refinery, India
- Indian Oil Corporation Limited
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Dalmia Cement Bharat India
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Vizag Seaport Private Limited - India
- White Energy Company Limited
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The University of Queensland
- London Commodity Brokers - England
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Lanco Infratech Ltd - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Energy Development Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Australian Commodity Traders Exchange
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- IHS Mccloskey Coal Group - USA
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- Simpson Spence & Young - Indonesia
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Xindia Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Minerals Council of Australia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Karaikal Port Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Vedanta Resources Plc - India
- Thai Mozambique Logistica
- Savvy Resources Ltd - HongKong
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- Barasentosa Lestari - Indonesia
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Kumho Petrochemical, South Korea
- Bulk Trading Sa - Switzerland
- Planning Commission, India
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