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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, 20 April 09
INDO TAMBANGRAYA 2009 OUTPUT TO GO UP 16% - THE JAKARTA POST
Indonesia's third largest coal producer, publicly listed PT Indo Tambangraya Megah (ITM), is targeting to raise production by 16 percent this year ...
Monday, 20 April 09
PT PAMAPERSADA SEES ITS REVENUE TO CLIMB BY 20% IN 2009 - STEELGURU
PT Pamapersada Nusantara, a unit of Indonesia's PT United Tractors, said that its 2009 profit will be similar to last year, even as it forecasts re ...
Monday, 20 April 09
NIPPON STEEL SEMI-SOFT COAL PRICE SAID TO DROP 67% - BLOOMBERG
Nippon Steel Corp., Japan’s largest mill, will pay up to 67 percent less for semi-soft coking coal this fiscal year, two industry executives w ...
Monday, 20 April 09
INTERNATIONAL INVESTORS SEEK TO SELL ADARO STAKES - MONEY.CNN
Some international investors in PT Adaro Energy ( ADRO.JK) have approached other companies to sell around a combined 17% stake in the coal miner via ...
Friday, 17 April 09
JSW TO BUY THERMAL COAL MINE IN AFRICA
Sajjan Jindal-led JSW Energy is close to acquiring a sub-Saharan African thermal coal mine, which has reserves of more than 200 million tons, to min ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Baramulti Group, Indonesia
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Iligan Light & Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Coalindo Energy - Indonesia
- Independent Power Producers Association of India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Indonesian Coal Mining Association
- GAC Shipping (India) Pvt Ltd
- Toyota Tsusho Corporation, Japan
- Larsen & Toubro Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Eastern Energy - Thailand
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- India Bulls Power Limited - India
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Commonwealth Bank - Australia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Oldendorff Carriers - Singapore
- Economic Council, Georgia
- Coal and Oil Company - UAE
- PTC India Limited - India
- Videocon Industries ltd - India
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Ministry of Finance - Indonesia
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Cement Manufacturers Association - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Aboitiz Power Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Anglo American - United Kingdom
- VISA Power Limited - India
- Dalmia Cement Bharat India
- Formosa Plastics Group - Taiwan
- Xindia Steels Limited - India
- Siam City Cement PLC, Thailand
- Manunggal Multi Energi - Indonesia
- Meenaskhi Energy Private Limited - India
- Ministry of Transport, Egypt
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Coastal Gujarat Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Sinarmas Energy and Mining - Indonesia
- Electricity Authority, New Zealand
- Binh Thuan Hamico - Vietnam
- Bharathi Cement Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Oil Corporation Limited
- Sarangani Energy Corporation, Philippines
- Central Electricity Authority - India
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Salva Resources Pvt Ltd - India
- ASAPP Information Group - India
- Global Business Power Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Wilmar Investment Holdings
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Thai Mozambique Logistica
- White Energy Company Limited
- Cigading International Bulk Terminal - Indonesia
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement - Thailand
- Edison Trading Spa - Italy
- Maheswari Brothers Coal Limited - India
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
- Pendopo Energi Batubara - Indonesia
- SMC Global Power, Philippines
- Wood Mackenzie - Singapore
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Rio Tinto Coal - Australia
- Renaissance Capital - South Africa
- CIMB Investment Bank - Malaysia
- Metalloyd Limited - United Kingdom
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Posco Energy - South Korea
- Kohat Cement Company Ltd. - Pakistan
- Borneo Indobara - Indonesia
- Savvy Resources Ltd - HongKong
- Gujarat Sidhee Cement - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Australian Coal Association
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Riau Bara Harum - Indonesia
- Bukit Baiduri Energy - Indonesia
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Kobexindo Tractors - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Georgia Ports Authority, United States
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Coal Blending Company Limited - Australia
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Standard Chartered Bank - UAE
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Indika Energy - Indonesia
- Therma Luzon, Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Orica Mining Services - Indonesia
- Indian Energy Exchange, India
- Bukit Asam (Persero) Tbk - Indonesia
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Central Java Power - Indonesia
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Bhushan Steel Limited - India
- Mercator Lines Limited - India
- Kideco Jaya Agung - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- Planning Commission, India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- Sojitz Corporation - Japan
- Malabar Cements Ltd - India
- Bulk Trading Sa - Switzerland
- GVK Power & Infra Limited - India
- SMG Consultants - Indonesia
- PowerSource Philippines DevCo
- Banpu Public Company Limited - Thailand
- Kartika Selabumi Mining - Indonesia
- Star Paper Mills Limited - India
- Chettinad Cement Corporation Ltd - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Madhucon Powers Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Bangladesh Power Developement Board
- Vizag Seaport Private Limited - India
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