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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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Sunday, 26 April 09
MITRA HOPES TO SECURE DEALS WITH TWO COAL FIRMS BY JUNE - THE JAKARTA POST
An integrated oil and gas services company, publicly listed PT Mitra Rajasa, is expecting to seal acquisition deals with two coal companies in June, ...
Sunday, 26 April 09
INDONESIAN GOVT SAYS COAL MINES CAUSE WEEKLONG FLOOD - THE JAKARTA POST
Samarinda administration in East Kalimantan admitted openly Thursday that the weeklong flood that paralyzed the city was caused by unruly management ...
Saturday, 25 April 09
FOREIGN SHARE DIVESTMENT STARTING THE 6TH YEAR OF PRODUCTION - MAJALAH TAMBANG
The government would set a divestment scheme for foreign miners, which would require companies to divest their ownership starting the 6th year of pr ...
Saturday, 25 April 09
INDO TAMBANGRAYA MEGAH ALLOCATED USD 126 MILLION FOR CAPITAL SPENDING - MAJALAH TAMBANG
Somyot Ruchirawat, President Director of PT Indo Tambangraya Megah, Tbk (ITMG), has announced the company's total dividend payment of Rp 1,345 per ...
Saturday, 25 April 09
MINING SECTOR IS STILL ON THE SURPLUS - THE JAKARTA POST
The global financial crisis is apparently also having an impact on the mining sector. People are thinking twice about investing in the mining sector ...
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- Dalmia Cement Bharat India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Billiton Holdings Pty Ltd - Australia
- Goldman Sachs - Singapore
- Orica Mining Services - Indonesia
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- Lanco Infratech Ltd - India
- Karaikal Port Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Wood Mackenzie - Singapore
- Videocon Industries ltd - India
- Aditya Birla Group - India
- Sarangani Energy Corporation, Philippines
- Cement Manufacturers Association - India
- Borneo Indobara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Australian Commodity Traders Exchange
- Ind-Barath Power Infra Limited - India
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Timah Investasi Mineral - Indoneisa
- Vedanta Resources Plc - India
- Tamil Nadu electricity Board
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Simpson Spence & Young - Indonesia
- Riau Bara Harum - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Ministry of Mines - Canada
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Kumho Petrochemical, South Korea
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Kideco Jaya Agung - Indonesia
- Central Java Power - Indonesia
- IEA Clean Coal Centre - UK
- Malabar Cements Ltd - India
- European Bulk Services B.V. - Netherlands
- Rashtriya Ispat Nigam Limited - India
- Latin American Coal - Colombia
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- South Luzon Thermal Energy Corporation
- Bukit Baiduri Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- GMR Energy Limited - India
- Maheswari Brothers Coal Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Agrawal Coal Company - India
- Iligan Light & Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Kobexindo Tractors - Indoneisa
- Bukit Asam (Persero) Tbk - Indonesia
- Barasentosa Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Eastern Coal Council - USA
- Binh Thuan Hamico - Vietnam
- Tata Chemicals Ltd - India
- Kaltim Prima Coal - Indonesia
- Interocean Group of Companies - India
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Bulk Trading Sa - Switzerland
- London Commodity Brokers - England
- Coalindo Energy - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- ASAPP Information Group - India
- Asmin Koalindo Tuhup - Indonesia
- Energy Link Ltd, New Zealand
- Economic Council, Georgia
- Intertek Mineral Services - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chettinad Cement Corporation Ltd - India
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- San Jose City I Power Corp, Philippines
- Global Coal Blending Company Limited - Australia
- Price Waterhouse Coopers - Russia
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Romanian Commodities Exchange
- Samtan Co., Ltd - South Korea
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Trasteel International SA, Italy
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Commonwealth Bank - Australia
- Baramulti Group, Indonesia
- Rio Tinto Coal - Australia
- AsiaOL BioFuels Corp., Philippines
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Directorate Of Revenue Intelligence - India
- ICICI Bank Limited - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- Standard Chartered Bank - UAE
- Meralco Power Generation, Philippines
- Salva Resources Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Australian Coal Association
- Merrill Lynch Commodities Europe
- Global Business Power Corporation, Philippines
- Ministry of Finance - Indonesia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Posco Energy - South Korea
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Ministry of Transport, Egypt
- Chamber of Mines of South Africa
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Coastal Gujarat Power Limited - India
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Pendopo Energi Batubara - Indonesia
- Antam Resourcindo - Indonesia
- Anglo American - United Kingdom
- India Bulls Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- SMC Global Power, Philippines
- Singapore Mercantile Exchange
- Eastern Energy - Thailand
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Mintek Dendrill Indonesia
- Larsen & Toubro Limited - India
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Cigading International Bulk Terminal - Indonesia
- Uttam Galva Steels Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Global Green Power PLC Corporation, Philippines
- Attock Cement Pakistan Limited
- Altura Mining Limited, Indonesia
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Planning Commission, India
- New Zealand Coal & Carbon
- White Energy Company Limited
- Bangladesh Power Developement Board
- Jorong Barutama Greston.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Indonesian Coal Mining Association
- Bukit Makmur.PT - Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Carbofer General Trading SA - India
- Mercator Lines Limited - India
- Banpu Public Company Limited - Thailand
- CNBM International Corporation - China
- Gujarat Mineral Development Corp Ltd - India
- Ambuja Cements Ltd - India
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