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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, 16 May 09
FREIGHT MARKET HAS BEEN EXTREMELY BUOYANT - VISTAAR SINGAPORE
COALspot.com (Singapore): The week saw the BDI rally continuing and the market freight market has been extremely buoyant, VISTAAR Shipping Pte Limit ...
Friday, 15 May 09
INDIKA EXPECTS TO INCREASE COAL PRODUCTION BY 12.68% IN 2010 - THE JAKARTA POST
ENERGY and infrastructure company PT Indika Energy, the parent company of Indonesia's third largest coal producer PT Kideco Jaya Agung, expects its ...
Thursday, 14 May 09
INDONESIA 2009 COAL OUTPUT REVISED DOWN - REUTERS
* Indonesia coal output seen at 240 million tonnes in 2009
* Coal exports down 11.2 pct to 44.79 mln tonnes in Q1 2009
* Production down 1.4 pct t ...
Thursday, 14 May 09
PAKISTAN WILL IMPORT 3.2 MILLION TON OF COAL IN 2009 - SEATRADE
COALspot.com (Pakistan) - SEATRADE Group of pakistan a single largest imported coal supplier in Pakistan, forecasting Pakistan steam coal imports wi ...
Wednesday, 13 May 09
ADARO, ITM EXPECT COAL GROWTH IN 2009
Adaro, which has a market capitalization of $3.64 billion, sells to 48 customers in 18 countries worldwide, including power utilities Thai Power and ...
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- Indonesian Coal Mining Association
- Planning Commission, India
- Bahari Cakrawala Sebuku - Indonesia
- Metalloyd Limited - United Kingdom
- White Energy Company Limited
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Indian Oil Corporation Limited
- GN Power Mariveles Coal Plant, Philippines
- Bukit Makmur.PT - Indonesia
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- Kaltim Prima Coal - Indonesia
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Salva Resources Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Georgia Ports Authority, United States
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Heidelberg Cement - Germany
- Kalimantan Lumbung Energi - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- SMC Global Power, Philippines
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Binh Thuan Hamico - Vietnam
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- Sical Logistics Limited - India
- Formosa Plastics Group - Taiwan
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Oldendorff Carriers - Singapore
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Antam Resourcindo - Indonesia
- Xindia Steels Limited - India
- PowerSource Philippines DevCo
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Altura Mining Limited, Indonesia
- Kobexindo Tractors - Indoneisa
- Lanco Infratech Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- Central Java Power - Indonesia
- VISA Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Leighton Contractors Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Asmin Koalindo Tuhup - Indonesia
- IEA Clean Coal Centre - UK
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- SN Aboitiz Power Inc, Philippines
- Orica Mining Services - Indonesia
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- MS Steel International - UAE
- TeaM Sual Corporation - Philippines
- Grasim Industreis Ltd - India
- International Coal Ventures Pvt Ltd - India
- Economic Council, Georgia
- Commonwealth Bank - Australia
- Petron Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Kideco Jaya Agung - Indonesia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Straits Asia Resources Limited - Singapore
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Iligan Light & Power Inc, Philippines
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Bangladesh Power Developement Board
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Uttam Galva Steels Limited - India
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Samtan Co., Ltd - South Korea
- Indogreen Group - Indonesia
- The State Trading Corporation of India Ltd
- Aditya Birla Group - India
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- ASAPP Information Group - India
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Toyota Tsusho Corporation, Japan
- Kumho Petrochemical, South Korea
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Indian Energy Exchange, India
- SMG Consultants - Indonesia
- Bhoruka Overseas - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Borneo Indobara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- McConnell Dowell - Australia
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Minerals Council of Australia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Deloitte Consulting - India
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Meralco Power Generation, Philippines
- Parry Sugars Refinery, India
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Semirara Mining and Power Corporation, Philippines
- India Bulls Power Limited - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Cement Manufacturers Association - India
- Siam City Cement PLC, Thailand
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Port Waratah Coal Services - Australia
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining Corp, Philippines
- Interocean Group of Companies - India
- Thiess Contractors Indonesia
- Orica Australia Pty. Ltd.
- Bharathi Cement Corporation - India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Latin American Coal - Colombia
- Manunggal Multi Energi - Indonesia
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Chettinad Cement Corporation Ltd - India
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Makarim & Taira - Indonesia
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- The University of Queensland
- Rashtriya Ispat Nigam Limited - India
- Kapuas Tunggal Persada - Indonesia
- Sojitz Corporation - Japan
- Mercator Lines Limited - India
- Baramulti Group, Indonesia
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Goldman Sachs - Singapore
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