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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, 13 May 09
COAL SUPPLY MAY BE VASTLY OVERESTIMATED - ABC SCIENCE
The world's coal supply suggests reserves may be vastly overestimated and we could be facing an unprecedented global energy crisis, according to a ...
Wednesday, 13 May 09
INDONESIA ADARO NET PROFIT, REVENUE TO RISE IN 2009 - REUTERS
INDONESIA's largest coal producer by market value, PT Adaro Energy Tbk, expects double-digit growth in revenue and net profit this year, an officia ...
Wednesday, 13 May 09
ALPHA TO BUY RIVAL, CREATING NEW US COAL HEAVYWEIGHT - MININGWEEKLY.COM
Alpha Natural Resources, the biggest supplier of metallurgical coal in the US, has agreed to buy Maryland-based rival Foundation Coal for about $1,4 ...
Tuesday, 12 May 09
CHINA MINERS CUT COAL PRICE OFFER TO JAPAN UTILITIES - ALIBABA.COM
* Producers cut offer to $75.50 a tonne from over $80
* Negotiations may conclude soon as price gap narrows
* New offer at discount of about 43 pe ...
Tuesday, 12 May 09
INDO TAMBANGRAYA SEES 2010 COAL OUTPUT UP 25 PCT - REUTERS
Indonesian coal miner, PT Indo Tambangraya Megah (ITMG.JK), expects coal output to increase by up to 25 percent next year as production kicks in at ...
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- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Sojitz Corporation - Japan
- ICICI Bank Limited - India
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Coal and Oil Company - UAE
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Goldman Sachs - Singapore
- Marubeni Corporation - India
- Chettinad Cement Corporation Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Pendopo Energi Batubara - Indonesia
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Wilmar Investment Holdings
- Port Waratah Coal Services - Australia
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Parry Sugars Refinery, India
- Petrochimia International Co. Ltd.- Taiwan
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sakthi Sugars Limited - India
- Medco Energi Mining Internasional
- Standard Chartered Bank - UAE
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Iligan Light & Power Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- India Bulls Power Limited - India
- Planning Commission, India
- Global Coal Blending Company Limited - Australia
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Ministry of Mines - Canada
- Chamber of Mines of South Africa
- GAC Shipping (India) Pvt Ltd
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Lanco Infratech Ltd - India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- Australian Coal Association
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- Aboitiz Power Corporation - Philippines
- Merrill Lynch Commodities Europe
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Indika Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Indogreen Group - Indonesia
- Minerals Council of Australia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Gujarat Sidhee Cement - India
- Antam Resourcindo - Indonesia
- Independent Power Producers Association of India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Commonwealth Bank - Australia
- PTC India Limited - India
- Thai Mozambique Logistica
- The University of Queensland
- IEA Clean Coal Centre - UK
- Electricity Generating Authority of Thailand
- Economic Council, Georgia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- TNB Fuel Sdn Bhd - Malaysia
- LBH Netherlands Bv - Netherlands
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Indian Energy Exchange, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Vedanta Resources Plc - India
- Borneo Indobara - Indonesia
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Georgia Ports Authority, United States
- Simpson Spence & Young - Indonesia
- Agrawal Coal Company - India
- Siam City Cement - Thailand
- New Zealand Coal & Carbon
- Barasentosa Lestari - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Meenaskhi Energy Private Limited - India
- Riau Bara Harum - Indonesia
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- McConnell Dowell - Australia
- Carbofer General Trading SA - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Kepco SPC Power Corporation, Philippines
- Star Paper Mills Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Alfred C Toepfer International GmbH - Germany
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Dalmia Cement Bharat India
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- Formosa Plastics Group - Taiwan
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- Tata Chemicals Ltd - India
- Orica Mining Services - Indonesia
- GVK Power & Infra Limited - India
- VISA Power Limited - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Central Electricity Authority - India
- Parliament of New Zealand
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Vijayanagar Sugar Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Semirara Mining and Power Corporation, Philippines
- Electricity Authority, New Zealand
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Bhushan Steel Limited - India
- Straits Asia Resources Limited - Singapore
- Baramulti Group, Indonesia
- Bharathi Cement Corporation - India
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Therma Luzon, Inc, Philippines
- White Energy Company Limited
- Bayan Resources Tbk. - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indo Tambangraya Megah - Indonesia
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Posco Energy - South Korea
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Indian Oil Corporation Limited
- Mercator Lines Limited - India
- Power Finance Corporation Ltd., India
- PNOC Exploration Corporation - Philippines
- Neyveli Lignite Corporation Ltd, - India
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Banpu Public Company Limited - Thailand
- Central Java Power - Indonesia
- Makarim & Taira - Indonesia
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Energy Link Ltd, New Zealand
- Maheswari Brothers Coal Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Sree Jayajothi Cements Limited - India
- Kobexindo Tractors - Indoneisa
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
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