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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, 02 May 09
BUMI'S FIRST-QUARTER PROFIT RISES 21% ON COAL PRICE - BLOOMBERG
PT BUMI RESOURCES, Asia’s biggest exporter of power-station coal, said first-quarter profit rose 21 percent after it earned higher prices for ...
Saturday, 02 May 09
COAL PRICES TO RISE ON CHINESE SUPPLY, INDIAN DEMAND, UBS SAYS
Peter Hickson, an analyst with UBS AG in London, comments on prices for thermal coal, burned to generate power. He commented in a report today.
& ...
Friday, 01 May 09
DEUTSCHE, BECKKETT CLAIMING ADARO WIN - THE JAKARTA GLOBE
Both Deutsche Bank AG and Beckkett, an investment firm controlled by Indonesian tycoon Sukanto Tanoto, claimed victory on Tuesday after Singapore&rs ...
Thursday, 30 April 09
SAN MIGUEL IN TALKS TO BUY STAKE IN ADARO - REUTERS
San Miguel Corp is in talks to buy a stake worth about $500 million in Adaro Energy , Indonesia's largest coal producer by market value, the Philip ...
Wednesday, 29 April 09
BAYAN READY TO OPERATE WORLD'S LARGEST COAL QUALITY IMPROVEMENT FACILITY - MAJALAH TAMBANG
PT. Bayan Resources Tbk. (hereinafter referred to as Bayan), an Indonesian coal manufacturer, announced that they are ready to operate the world's ...
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- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- Indian Energy Exchange, India
- Orica Mining Services - Indonesia
- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- Deloitte Consulting - India
- Rashtriya Ispat Nigam Limited - India
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Indo Tambangraya Megah - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Ministry of Mines - Canada
- Indogreen Group - Indonesia
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Sree Jayajothi Cements Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- VISA Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Iligan Light & Power Inc, Philippines
- Price Waterhouse Coopers - Russia
- Commonwealth Bank - Australia
- GN Power Mariveles Coal Plant, Philippines
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Altura Mining Limited, Indonesia
- Manunggal Multi Energi - Indonesia
- Timah Investasi Mineral - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Tata Chemicals Ltd - India
- The Treasury - Australian Government
- CIMB Investment Bank - Malaysia
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Attock Cement Pakistan Limited
- South Luzon Thermal Energy Corporation
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Ambuja Cements Ltd - India
- Interocean Group of Companies - India
- Vedanta Resources Plc - India
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- Neyveli Lignite Corporation Ltd, - India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- PowerSource Philippines DevCo
- IHS Mccloskey Coal Group - USA
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Medco Energi Mining Internasional
- Offshore Bulk Terminal Pte Ltd, Singapore
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Bulk Trading Sa - Switzerland
- Thai Mozambique Logistica
- Riau Bara Harum - Indonesia
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Sical Logistics Limited - India
- Kapuas Tunggal Persada - Indonesia
- Latin American Coal - Colombia
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Planning Commission, India
- Orica Australia Pty. Ltd.
- Kartika Selabumi Mining - Indonesia
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Baramulti Group, Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- The University of Queensland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- India Bulls Power Limited - India
- Semirara Mining Corp, Philippines
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Anglo American - United Kingdom
- Sojitz Corporation - Japan
- Kaltim Prima Coal - Indonesia
- Indian Oil Corporation Limited
- Lanco Infratech Ltd - India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Pendopo Energi Batubara - Indonesia
- Bukit Makmur.PT - Indonesia
- Therma Luzon, Inc, Philippines
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Kideco Jaya Agung - Indonesia
- Parliament of New Zealand
- Global Coal Blending Company Limited - Australia
- Bhoruka Overseas - Indonesia
- Videocon Industries ltd - India
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Africa Commodities Group - South Africa
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- GAC Shipping (India) Pvt Ltd
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Star Paper Mills Limited - India
- Parry Sugars Refinery, India
- The State Trading Corporation of India Ltd
- Krishnapatnam Port Company Ltd. - India
- Formosa Plastics Group - Taiwan
- Petrochimia International Co. Ltd.- Taiwan
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Sindya Power Generating Company Private Ltd
- Ministry of Finance - Indonesia
- Aditya Birla Group - India
- Meralco Power Generation, Philippines
- ASAPP Information Group - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- Mercuria Energy - Indonesia
- Vizag Seaport Private Limited - India
- Port Waratah Coal Services - Australia
- SN Aboitiz Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Minerals Council of Australia
- Marubeni Corporation - India
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Salva Resources Pvt Ltd - India
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Standard Chartered Bank - UAE
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Romanian Commodities Exchange
- Petron Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Coal and Oil Company - UAE
- Banpu Public Company Limited - Thailand
- Meenaskhi Energy Private Limited - India
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Independent Power Producers Association of India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- TeaM Sual Corporation - Philippines
- Malabar Cements Ltd - India
- Intertek Mineral Services - Indonesia
- White Energy Company Limited
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Mintek Dendrill Indonesia
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