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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, 09 May 09
CHINA PLANS TO BUILD COAL STOCKPILE BASES IN SHANDONG - BLOOMBERG
China, the world’s largest coal producer and consumer, plans to build stockpiles of the fuel in the eastern province of Shandong to ensure sup ...
Friday, 08 May 09
INDONESIAN STATE AUDIT BOARD COULD ONLY REACHED A SMALL NUMBER OF KP AND PKP2B - MAJALAHTAMBANG
THE LACK of personnel and the very limited time period have been the reasons why the 2nd semester of the special purpose audit for coal mining ...
Friday, 08 May 09
B.C.'S MINING INDUSTRY HIGH COAL PRICES TO RECORD 2008 PROFITS - PAGUNTAKA
AGGREGATE pre-tax earnings rose to $3.2 billion, the highest amount in the 41-year history of a PricewaterhouseCoppers survey.
B.C.’s minin ...
Thursday, 07 May 09
ASIA COAL-PRICES EASE TO NEAR $63 ON DEMAND CONCERNS - REUTERS
AUSTRALIAN thermal coal prices, a benchmark for Asia, edged lower to around $63 a tonne on concerns over demand, after hitting a two-week high of $6 ...
Thursday, 07 May 09
RICHARDS BAY COAL SHIPMENTS FALL MOST IN 9 MONTHS - BLOOMBERG
RICHARDS BAY Coal Terminal Ltd., Africa’s largest coal-export facility, said shipments fell 24 percent last month, the biggest drop in nine mo ...
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- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- The University of Queensland
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- Siam City Cement - Thailand
- ICICI Bank Limited - India
- Sakthi Sugars Limited - India
- Edison Trading Spa - Italy
- IEA Clean Coal Centre - UK
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Timah Investasi Mineral - Indoneisa
- Makarim & Taira - Indonesia
- Georgia Ports Authority, United States
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- Indika Energy - Indonesia
- Africa Commodities Group - South Africa
- Australian Commodity Traders Exchange
- TeaM Sual Corporation - Philippines
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- Jaiprakash Power Ventures ltd
- Chettinad Cement Corporation Ltd - India
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Indian Oil Corporation Limited
- Gujarat Mineral Development Corp Ltd - India
- Australian Coal Association
- Antam Resourcindo - Indonesia
- Latin American Coal - Colombia
- Sical Logistics Limited - India
- Aditya Birla Group - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Sinarmas Energy and Mining - Indonesia
- Ministry of Transport, Egypt
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Energy Link Ltd, New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Holcim Trading Pte Ltd - Singapore
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Binh Thuan Hamico - Vietnam
- South Luzon Thermal Energy Corporation
- CNBM International Corporation - China
- Kideco Jaya Agung - Indonesia
- Ind-Barath Power Infra Limited - India
- Bulk Trading Sa - Switzerland
- Bhatia International Limited - India
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Jorong Barutama Greston.PT - Indonesia
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Interocean Group of Companies - India
- Asmin Koalindo Tuhup - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- European Bulk Services B.V. - Netherlands
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Essar Steel Hazira Ltd - India
- Lanco Infratech Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Jindal Steel & Power Ltd - India
- PTC India Limited - India
- The State Trading Corporation of India Ltd
- Coastal Gujarat Power Limited - India
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Oldendorff Carriers - Singapore
- Romanian Commodities Exchange
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Vizag Seaport Private Limited - India
- Cement Manufacturers Association - India
- Energy Development Corp, Philippines
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Malabar Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Therma Luzon, Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Semirara Mining Corp, Philippines
- Chamber of Mines of South Africa
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- Ministry of Mines - Canada
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Krishnapatnam Port Company Ltd. - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Coalindo Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Singapore Mercantile Exchange
- Alfred C Toepfer International GmbH - Germany
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Orica Mining Services - Indonesia
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Simpson Spence & Young - Indonesia
- Central Electricity Authority - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- Deloitte Consulting - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- SN Aboitiz Power Inc, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indian Energy Exchange, India
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Toyota Tsusho Corporation, Japan
- Barasentosa Lestari - Indonesia
- Goldman Sachs - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Ministry of Finance - Indonesia
- OPG Power Generation Pvt Ltd - India
- Indogreen Group - Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- India Bulls Power Limited - India
- Parliament of New Zealand
- VISA Power Limited - India
- Wood Mackenzie - Singapore
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- The Treasury - Australian Government
- Videocon Industries ltd - India
- Attock Cement Pakistan Limited
- Anglo American - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- Rio Tinto Coal - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Standard Chartered Bank - UAE
- GMR Energy Limited - India
- Larsen & Toubro Limited - India
- Formosa Plastics Group - Taiwan
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Kohat Cement Company Ltd. - Pakistan
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Ambuja Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Heidelberg Cement - Germany
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