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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, 13 April 09
INDIA'S NTPC FOURTH-QUARTER PROFIT RISES 30% ON POWER OUTPUT - BLOOMBERG
NTPC Ltd., India’s biggest electricity generator, said profit rose 30 percent in the fourth quarter after higher efficiency helped production. ...
Thursday, 09 April 09
INDONESIAN CILACAP, FISHERMEN PROTEST COAL BARGES ANCHORING IN BAY - THE JAKARTA POST
Fishermen in Cilacap, Central Java, have protested against the presence of dozens of coal barges lying at anchor in Teluk Penyu Bay, claiming they a ...
Thursday, 09 April 09
INDONESIA'S PLN (STATE ELECTRICITY COMPANY) TO SET POWER PURCHASE PRICES FOR INDEPENDENT PRODUCERS - THE JAKARTA POST
State power company PT PLN holds the mandate to set power purchase prices to buy electricity produced by its (IPP) business partners, aiming at flex ...
Wednesday, 08 April 09
ARCELORMITTAL BUYS STAKE IN COAL OF AFRICA - MINEWEB
Steel maker, ArcelorMittal SA, has acquired a 16.3 percent stake in Coal of Africa Ltd. for $44.98 million in cash.
ArcelorMittal SA, the South A ...
Wednesday, 08 April 09
EXPORTS AT AUSTRALIA NEWCASTLE COAL PORT FALL ON STORM -MINING-JOURNAL
Coal exports from Australia's Newcastle port, the world's largest coal export terminal, fell roughly 18% last week to a 4½-month low, as ro ...
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- CIMB Investment Bank - Malaysia
- Commonwealth Bank - Australia
- SN Aboitiz Power Inc, Philippines
- Jindal Steel & Power Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Iligan Light & Power Inc, Philippines
- Global Business Power Corporation, Philippines
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Kumho Petrochemical, South Korea
- Global Green Power PLC Corporation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Energy Link Ltd, New Zealand
- Sindya Power Generating Company Private Ltd
- Bharathi Cement Corporation - India
- Economic Council, Georgia
- Central Electricity Authority - India
- Antam Resourcindo - Indonesia
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Globalindo Alam Lestari - Indonesia
- Singapore Mercantile Exchange
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Latin American Coal - Colombia
- Lanco Infratech Ltd - India
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- The State Trading Corporation of India Ltd
- Pendopo Energi Batubara - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Timah Investasi Mineral - Indoneisa
- Wilmar Investment Holdings
- Videocon Industries ltd - India
- Port Waratah Coal Services - Australia
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Romanian Commodities Exchange
- GAC Shipping (India) Pvt Ltd
- Orica Australia Pty. Ltd.
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- MS Steel International - UAE
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Bhatia International Limited - India
- Mjunction Services Limited - India
- McConnell Dowell - Australia
- GVK Power & Infra Limited - India
- Semirara Mining Corp, Philippines
- Price Waterhouse Coopers - Russia
- Eastern Coal Council - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Barasentosa Lestari - Indonesia
- Deloitte Consulting - India
- Makarim & Taira - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Coalindo Energy - Indonesia
- Ambuja Cements Ltd - India
- Africa Commodities Group - South Africa
- Independent Power Producers Association of India
- Star Paper Mills Limited - India
- Parliament of New Zealand
- Uttam Galva Steels Limited - India
- The Treasury - Australian Government
- Savvy Resources Ltd - HongKong
- International Coal Ventures Pvt Ltd - India
- Petron Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Xindia Steels Limited - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- ICICI Bank Limited - India
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Borneo Indobara - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Directorate General of MIneral and Coal - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Wood Mackenzie - Singapore
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- New Zealand Coal & Carbon
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Rashtriya Ispat Nigam Limited - India
- PowerSource Philippines DevCo
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Jaiprakash Power Ventures ltd
- Parry Sugars Refinery, India
- PNOC Exploration Corporation - Philippines
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Tamil Nadu electricity Board
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- GMR Energy Limited - India
- Vedanta Resources Plc - India
- Tata Chemicals Ltd - India
- TeaM Sual Corporation - Philippines
- Attock Cement Pakistan Limited
- Vizag Seaport Private Limited - India
- Karaikal Port Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Salva Resources Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Manunggal Multi Energi - Indonesia
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- ASAPP Information Group - India
- Eastern Energy - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Anglo American - United Kingdom
- OPG Power Generation Pvt Ltd - India
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Australian Coal Association
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Sree Jayajothi Cements Limited - India
- PTC India Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Sakthi Sugars Limited - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
- Coastal Gujarat Power Limited - India
- Siam City Cement - Thailand
- Trasteel International SA, Italy
- Kohat Cement Company Ltd. - Pakistan
- Coal and Oil Company - UAE
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Kideco Jaya Agung - Indonesia
- Ministry of Transport, Egypt
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Standard Chartered Bank - UAE
- The University of Queensland
- Bukit Makmur.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Sical Logistics Limited - India
- Bhushan Steel Limited - India
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Baramulti Group, Indonesia
- Thiess Contractors Indonesia
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Billiton Holdings Pty Ltd - Australia
- Minerals Council of Australia
- Bulk Trading Sa - Switzerland
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- SMC Global Power, Philippines
- Posco Energy - South Korea
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