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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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Monday, 27 April 09
INDONESIA S.KALIMANTAN GETS COAL TRUCKS OFF PUBLIC ROADS - REUTERS
A local government in one of Indonesia's top coal-producing areas has banned coal and palm oil firms from using public roads because of the damage ...
Monday, 27 April 09
JSW ENERGY SET TO SNAP UP AFRICAN COAL MINE FOR $70 MN - ECONOMIC TIMES
Sajjan Jindal-led JSW Energy is close to acquiring a sub-Saharan African thermal coal mine, which has reserves of more than 200 million ...
Monday, 27 April 09
INDONESIA MINING RULES MAY DETER INVESTORS-OFFICIALS - REUTERS
Indonesia's rules on foreign divestment of mining projects must be revised to address issues such as finding buyers if Southeast Asia's biggest ec ...
Monday, 27 April 09
UNDERGROUND MINING IN FOREST AREAS NOT SO SIMPLE - THE JAKARTA POST
The government's plan to issue a presidential decree allowing mining companies to mine underground in protected forest concession areas has resulte ...
Monday, 27 April 09
COAL PRICES ABOVE FUNDAMENTALS - STUFF.CO.NZ
Coal prices have defied the gravity of fundamental factors, supported by stockpiling prompted by cheaper prompt prices rather than a reflextion of a ...
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- Sical Logistics Limited - India
- LBH Netherlands Bv - Netherlands
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- Jaiprakash Power Ventures ltd
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- Central Java Power - Indonesia
- Holcim Trading Pte Ltd - Singapore
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Trasteel International SA, Italy
- Agrawal Coal Company - India
- Vizag Seaport Private Limited - India
- Standard Chartered Bank - UAE
- SMG Consultants - Indonesia
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Sarangani Energy Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Eastern Coal Council - USA
- European Bulk Services B.V. - Netherlands
- MS Steel International - UAE
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Medco Energi Mining Internasional
- Videocon Industries ltd - India
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- Indika Energy - Indonesia
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- Planning Commission, India
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- Tata Chemicals Ltd - India
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- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- Semirara Mining Corp, Philippines
- Semirara Mining and Power Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- TNB Fuel Sdn Bhd - Malaysia
- Petrochimia International Co. Ltd.- Taiwan
- Edison Trading Spa - Italy
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Salva Resources Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- VISA Power Limited - India
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- Commonwealth Bank - Australia
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Antam Resourcindo - Indonesia
- Kumho Petrochemical, South Korea
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- OPG Power Generation Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Georgia Ports Authority, United States
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- AsiaOL BioFuels Corp., Philippines
- Jindal Steel & Power Ltd - India
- Indonesian Coal Mining Association
- London Commodity Brokers - England
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Bayan Resources Tbk. - Indonesia
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- GMR Energy Limited - India
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Indian Energy Exchange, India
- Pipit Mutiara Jaya. PT, Indonesia
- Rashtriya Ispat Nigam Limited - India
- Siam City Cement PLC, Thailand
- Bukit Asam (Persero) Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Oldendorff Carriers - Singapore
- Ministry of Finance - Indonesia
- Aboitiz Power Corporation - Philippines
- Goldman Sachs - Singapore
- Karbindo Abesyapradhi - Indoneisa
- Ministry of Mines - Canada
- Marubeni Corporation - India
- Attock Cement Pakistan Limited
- Madhucon Powers Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Mercuria Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Sojitz Corporation - Japan
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- White Energy Company Limited
- Energy Link Ltd, New Zealand
- Posco Energy - South Korea
- Gujarat Mineral Development Corp Ltd - India
- Heidelberg Cement - Germany
- Ambuja Cements Ltd - India
- Malabar Cements Ltd - India
- Metalloyd Limited - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- IEA Clean Coal Centre - UK
- PetroVietnam Power Coal Import and Supply Company
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- PowerSource Philippines DevCo
- Australian Coal Association
- Orica Mining Services - Indonesia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Borneo Indobara - Indonesia
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Energy Development Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- Merrill Lynch Commodities Europe
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- Latin American Coal - Colombia
- CIMB Investment Bank - Malaysia
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Meenaskhi Energy Private Limited - India
- Savvy Resources Ltd - HongKong
- Riau Bara Harum - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mercator Lines Limited - India
- Karaikal Port Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- SMC Global Power, Philippines
- Wilmar Investment Holdings
- Alfred C Toepfer International GmbH - Germany
- Makarim & Taira - Indonesia
- Maheswari Brothers Coal Limited - India
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- IHS Mccloskey Coal Group - USA
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Toyota Tsusho Corporation, Japan
- Electricity Generating Authority of Thailand
- CNBM International Corporation - China
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- PTC India Limited - India
- Price Waterhouse Coopers - Russia
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- Cement Manufacturers Association - India
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- ICICI Bank Limited - India
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
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