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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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Saturday, 30 May 09
COAL INDIA SIGNS FUEL SUPPLY AGREEMENT WITH NTPC - SINDHTODAY
India’s largest coal miner Coal India Friday inked a much-awaited fuel supply agreement (FSA) with power generation major NTPC Ltd.
In the ...
Friday, 29 May 09
INDONESIA PLANS "CLEARING HOUSE" FOR COAL - ALIBABA
Alibaba reported that, Indonesia, the world's biggest thermal coal exporter, plans to set up an agency similar to a clearing house to trade stocks ...
Friday, 29 May 09
INDIKA EYES MORE ACQUISITIONS - THE JAKARTA POST
Having nearly completed the acquisition of engineering and mining company PT Petrosea, energy company PT Indika Energy is preparing for more acquisi ...
Friday, 29 May 09
PTBA PAYS DIVIDENDS OF RP 371.5 A SHARE - THE JAKARTA POST
The annual shareholders' meeting of state-controlled coal producer PT Tambang Batubara Bukit Asam (PTBA) approved on Thursday the allocation of 50 ...
Thursday, 28 May 09
INDIANS CHOOSE SOUTH AFRICA COAL OVER INDONESIAN - MINEWEB (REUTERS)
South African cargoes are about $4 a tonne cheaper than Indonesian coal, as a result India now prefers South Africa .
Indian imports of South Afr ...
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- OPG Power Generation Pvt Ltd - India
- ICICI Bank Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Global Coal Blending Company Limited - Australia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- European Bulk Services B.V. - Netherlands
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Intertek Mineral Services - Indonesia
- Africa Commodities Group - South Africa
- ASAPP Information Group - India
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Mintek Dendrill Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Sojitz Corporation - Japan
- Bharathi Cement Corporation - India
- Eastern Energy - Thailand
- Siam City Cement - Thailand
- Indika Energy - Indonesia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Bukit Asam (Persero) Tbk - Indonesia
- Edison Trading Spa - Italy
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Central Electricity Authority - India
- Sical Logistics Limited - India
- Savvy Resources Ltd - HongKong
- Chamber of Mines of South Africa
- Altura Mining Limited, Indonesia
- Iligan Light & Power Inc, Philippines
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- GVK Power & Infra Limited - India
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- TeaM Sual Corporation - Philippines
- Medco Energi Mining Internasional
- Timah Investasi Mineral - Indoneisa
- Price Waterhouse Coopers - Russia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Bhushan Steel Limited - India
- Dalmia Cement Bharat India
- Thai Mozambique Logistica
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Interocean Group of Companies - India
- Leighton Contractors Pty Ltd - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Coalindo Energy - Indonesia
- GMR Energy Limited - India
- Formosa Plastics Group - Taiwan
- Essar Steel Hazira Ltd - India
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Australian Coal Association
- Cigading International Bulk Terminal - Indonesia
- SN Aboitiz Power Inc, Philippines
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Minerals Council of Australia
- IHS Mccloskey Coal Group - USA
- Bhoruka Overseas - Indonesia
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Ministry of Transport, Egypt
- Karbindo Abesyapradhi - Indoneisa
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Aboitiz Power Corporation - Philippines
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Georgia Ports Authority, United States
- Asia Pacific Energy Resources Ventures Inc, Philippines
- SMG Consultants - Indonesia
- Chettinad Cement Corporation Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- CNBM International Corporation - China
- Miang Besar Coal Terminal - Indonesia
- Economic Council, Georgia
- LBH Netherlands Bv - Netherlands
- Bahari Cakrawala Sebuku - Indonesia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Grasim Industreis Ltd - India
- The Treasury - Australian Government
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- CIMB Investment Bank - Malaysia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Anglo American - United Kingdom
- Bhatia International Limited - India
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Energy Link Ltd, New Zealand
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- Billiton Holdings Pty Ltd - Australia
- Siam City Cement PLC, Thailand
- Ind-Barath Power Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Renaissance Capital - South Africa
- Alfred C Toepfer International GmbH - Germany
- New Zealand Coal & Carbon
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Parliament of New Zealand
- Mjunction Services Limited - India
- Merrill Lynch Commodities Europe
- Singapore Mercantile Exchange
- Indo Tambangraya Megah - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Ministry of Finance - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Authority, New Zealand
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Gujarat Electricity Regulatory Commission - India
- TNB Fuel Sdn Bhd - Malaysia
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sarangani Energy Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Petron Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- The University of Queensland
- Heidelberg Cement - Germany
- Star Paper Mills Limited - India
- Kumho Petrochemical, South Korea
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
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