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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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Tuesday, 12 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 ...
Tuesday, 12 May 09
BANPU'S PROFIT DOUBLES TO RECORD AFTER SALES JUMP - BLOOMBERG
BANPU Pcl, Thailand’s biggest coal producer, reported first-quarter profit more than doubled to a record after higher prices for the fuel boos ...
Tuesday, 12 May 09
COAL IN PLACE, GMR PLANS 2,000-MW THERMAL PLANT - BUSINESS-STANDARD
GMR ENERGY, a subsidiary of Bangalore-based infrastructure company GMR Infrastructure Ltd, is planning to set up a 2,000-Mw thermal power plant near ...
Monday, 11 May 09
SOUTH AFRICA PROBLEMS SLOW INDIA COAL BUYING - MINE WEB
Indian imports of South African coal are likely to be close to 12 million tonnes in 2009, up from 10 million last year.
Indian coal buyers were a ...
Saturday, 09 May 09
THE WEEK SAW BIT OF HECTIC ACTIVITY IN THE FREIGHT MARKET - VISTAAR SHIPPING
COALspot.com (Singapore) : VISTAAR Shipping Pte Limited, one of the experienced ship operator in Singapore, said, the week saw bit of hectic ac ...
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- Chamber of Mines of South Africa
- Parliament of New Zealand
- Vedanta Resources Plc - India
- Wood Mackenzie - Singapore
- Wilmar Investment Holdings
- Singapore Mercantile Exchange
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Cement Manufacturers Association - India
- Bhushan Steel Limited - India
- Binh Thuan Hamico - Vietnam
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Indika Energy - Indonesia
- Standard Chartered Bank - UAE
- Romanian Commodities Exchange
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- The Treasury - Australian Government
- Rio Tinto Coal - Australia
- Orica Mining Services - Indonesia
- PNOC Exploration Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- Kartika Selabumi Mining - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Deloitte Consulting - India
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bangladesh Power Developement Board
- Baramulti Group, Indonesia
- Borneo Indobara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- TeaM Sual Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Barasentosa Lestari - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Bukit Baiduri Energy - Indonesia
- Thai Mozambique Logistica
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Pendopo Energi Batubara - Indonesia
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- PTC India Limited - India
- Straits Asia Resources Limited - Singapore
- ICICI Bank Limited - India
- Rashtriya Ispat Nigam Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Timah Investasi Mineral - Indoneisa
- Salva Resources Pvt Ltd - India
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Riau Bara Harum - Indonesia
- Sarangani Energy Corporation, Philippines
- Savvy Resources Ltd - HongKong
- ASAPP Information Group - India
- Kaltim Prima Coal - Indonesia
- GMR Energy Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Interocean Group of Companies - India
- Dalmia Cement Bharat India
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Bayan Resources Tbk. - Indonesia
- Independent Power Producers Association of India
- Bhatia International Limited - India
- Central Java Power - Indonesia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Siam City Cement - Thailand
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Attock Cement Pakistan Limited
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Holcim Trading Pte Ltd - Singapore
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Parry Sugars Refinery, India
- Kobexindo Tractors - Indoneisa
- Mintek Dendrill Indonesia
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Manunggal Multi Energi - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Australian Commodity Traders Exchange
- Sojitz Corporation - Japan
- GAC Shipping (India) Pvt Ltd
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- OPG Power Generation Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Jaiprakash Power Ventures ltd
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Energy Link Ltd, New Zealand
- Kumho Petrochemical, South Korea
- Ministry of Finance - Indonesia
- Maheswari Brothers Coal Limited - India
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Essar Steel Hazira Ltd - India
- Sakthi Sugars Limited - India
- Economic Council, Georgia
- Australian Coal Association
- Krishnapatnam Port Company Ltd. - India
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- McConnell Dowell - Australia
- Ministry of Mines - Canada
- IHS Mccloskey Coal Group - USA
- The University of Queensland
- Gujarat Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Formosa Plastics Group - Taiwan
- VISA Power Limited - India
- Posco Energy - South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- Agrawal Coal Company - India
- Commonwealth Bank - Australia
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- Chettinad Cement Corporation Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meenaskhi Energy Private Limited - India
- South Luzon Thermal Energy Corporation
- The State Trading Corporation of India Ltd
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Indo Tambangraya Megah - Indonesia
- Intertek Mineral Services - Indonesia
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Mercator Lines Limited - India
- Africa Commodities Group - South Africa
- Global Green Power PLC Corporation, Philippines
- Grasim Industreis Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- Malabar Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
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