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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, 20 May 09
COAL & OIL BAGS TWO CONTRACTS TO SUPPLY COAL TO CEMENT & SUGAR INDUSTRY IN INDIA
COALspot.com: According to website of Coal & Oil Company, Aditya Birla Group (Ultratech) have placed orders with Coal and Oil Company for supply ...
Wednesday, 20 May 09
CIL MAY URGE NEW GOVERNMENT TO HIKE COAL PRICE - STEELGURU
BL reported that soon after assuming office the new government may be faced with a proposal for an increase in prices of coal by Coal India Limited ...
Wednesday, 20 May 09
S.KOREA COAL IMPORTS IN APRIL DOWN 22 PCT Y/Y - REUTERS
South Korea's imports of heating coal in April fell 22 percent from a year earlier on bearish demand from domestic utilities, industry data showed ...
Wednesday, 20 May 09
THE WORLD'S TOP COAL TRADING COMPANIES - REUTERS
The international physical steam coal market has become increasingly liquid and tradeable during the past five years.
Physical global seaborne co ...
Wednesday, 20 May 09
SHIPPING INDEX RISES TO 7-MONTH HIGH AS CHINESE DEMAND ADVANCES - BLOOMBERG
The Baltic Dry Index, a measure of shipping costs for commodities, rose to a seven-month high in London on accelerating Chinese demand for iron ore. ...
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- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- The Treasury - Australian Government
- Miang Besar Coal Terminal - Indonesia
- Rio Tinto Coal - Australia
- Madhucon Powers Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- McConnell Dowell - Australia
- Chettinad Cement Corporation Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Manunggal Multi Energi - Indonesia
- Wood Mackenzie - Singapore
- VISA Power Limited - India
- Coastal Gujarat Power Limited - India
- Mjunction Services Limited - India
- Minerals Council of Australia
- Deloitte Consulting - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Tamil Nadu electricity Board
- Mintek Dendrill Indonesia
- Tata Chemicals Ltd - India
- Global Coal Blending Company Limited - Australia
- Planning Commission, India
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Malabar Cements Ltd - India
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Makarim & Taira - Indonesia
- Savvy Resources Ltd - HongKong
- Ministry of Transport, Egypt
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Kepco SPC Power Corporation, Philippines
- Siam City Cement - Thailand
- Ind-Barath Power Infra Limited - India
- Gujarat Sidhee Cement - India
- Leighton Contractors Pty Ltd - Australia
- Bhatia International Limited - India
- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Kapuas Tunggal Persada - Indonesia
- Port Waratah Coal Services - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indonesian Coal Mining Association
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Holcim Trading Pte Ltd - Singapore
- CIMB Investment Bank - Malaysia
- Altura Mining Limited, Indonesia
- The University of Queensland
- SMG Consultants - Indonesia
- Meenaskhi Energy Private Limited - India
- Simpson Spence & Young - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Romanian Commodities Exchange
- Binh Thuan Hamico - Vietnam
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Orica Australia Pty. Ltd.
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- Energy Development Corp, Philippines
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Meralco Power Generation, Philippines
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Ambuja Cements Ltd - India
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Vedanta Resources Plc - India
- Iligan Light & Power Inc, Philippines
- Heidelberg Cement - Germany
- Attock Cement Pakistan Limited
- Maharashtra Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Essar Steel Hazira Ltd - India
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Coal and Oil Company - UAE
- Kaltim Prima Coal - Indonesia
- Cement Manufacturers Association - India
- Pipit Mutiara Jaya. PT, Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Vizag Seaport Private Limited - India
- MS Steel International - UAE
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Marubeni Corporation - India
- Renaissance Capital - South Africa
- Aditya Birla Group - India
- Wilmar Investment Holdings
- Global Business Power Corporation, Philippines
- India Bulls Power Limited - India
- IEA Clean Coal Centre - UK
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- White Energy Company Limited
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- Jaiprakash Power Ventures ltd
- PowerSource Philippines DevCo
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- Bangladesh Power Developement Board
- Siam City Cement PLC, Thailand
- Aboitiz Power Corporation - Philippines
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Economic Council, Georgia
- Timah Investasi Mineral - Indoneisa
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Interocean Group of Companies - India
- Kalimantan Lumbung Energi - Indonesia
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Kohat Cement Company Ltd. - Pakistan
- Thiess Contractors Indonesia
- PTC India Limited - India
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Alfred C Toepfer International GmbH - Germany
- Maheswari Brothers Coal Limited - India
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- GMR Energy Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Australian Commodity Traders Exchange
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Ceylon Electricity Board - Sri Lanka
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