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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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Wednesday, 01 April 09
COAL FIRMS' PROFITS NOT EXPECTED TO GROW IN '09 - - THE JAKARTA POST (ANALYSTS)
Despite their windfall profits in 2008, analysts doubt that PT Bumi Resources Tbk or any other coal firms will post profit growth this year, with pr ...
Tuesday, 31 March 09
DEUTSCHE BANK TO ADD COAL, GAS, SHIPPING IN COMMODITY EXPANSION - BLOOMBERG
Deutsche Bank AG, after quadrupling revenue from commodities in two years, plans to add coal, European natural-gas and shipping to its business, ant ...
Monday, 30 March 09
CHINA SHENHUA SAYS AGREES DOMESTIC COAL DEALS - REUTERS
Chinese coal mining giant China Shenhua Energy Co has agreed long-term contracts with some Chinese power producers, its President Ling Wen said on M ...
Sunday, 29 March 09
SHENHUA ENERGY 2008 NET RISES 29% TO RECORD ON PRICES - BLOOMBERG
China Shenhua Energy Co Ltd., the nation’s biggest coal producer, said profit rose 29 percent to a record in 2008 after it increased productio ...
Friday, 27 March 09
SOUTH AFRICAN COAL EXPORTS EXPECTED TO RISE IN 2009, BUT RAIL WILL DETERMINE BY HOW MUCH - MININGWEEKLY
South Africa has an expanding coal-export terminal, but an uncertain rail capacity.
The mismatch is something South Africa cannot afford, given i ...
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- Tata Chemicals Ltd - India
- Mercator Lines Limited - India
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Romanian Commodities Exchange
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Neyveli Lignite Corporation Ltd, - India
- SN Aboitiz Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Minerals Council of Australia
- Attock Cement Pakistan Limited
- Ministry of Mines - Canada
- Commonwealth Bank - Australia
- Siam City Cement - Thailand
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- Sical Logistics Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- MS Steel International - UAE
- Mercuria Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Ministry of Finance - Indonesia
- IHS Mccloskey Coal Group - USA
- Maheswari Brothers Coal Limited - India
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Indogreen Group - Indonesia
- Jaiprakash Power Ventures ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Aditya Birla Group - India
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- ICICI Bank Limited - India
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Bulk Trading Sa - Switzerland
- Vijayanagar Sugar Pvt Ltd - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Economic Council, Georgia
- Gujarat Sidhee Cement - India
- Simpson Spence & Young - Indonesia
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- McConnell Dowell - Australia
- Videocon Industries ltd - India
- Rio Tinto Coal - Australia
- Leighton Contractors Pty Ltd - Australia
- Bukit Baiduri Energy - Indonesia
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Samtan Co., Ltd - South Korea
- Bhushan Steel Limited - India
- Eastern Energy - Thailand
- Oldendorff Carriers - Singapore
- Krishnapatnam Port Company Ltd. - India
- PTC India Limited - India
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- Independent Power Producers Association of India
- Timah Investasi Mineral - Indoneisa
- Power Finance Corporation Ltd., India
- Sarangani Energy Corporation, Philippines
- Coal and Oil Company - UAE
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- South Luzon Thermal Energy Corporation
- Gujarat Electricity Regulatory Commission - India
- Trasteel International SA, Italy
- Pendopo Energi Batubara - Indonesia
- Australian Coal Association
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Straits Asia Resources Limited - Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Africa Commodities Group - South Africa
- Marubeni Corporation - India
- Bayan Resources Tbk. - Indonesia
- Karaikal Port Pvt Ltd - India
- Cement Manufacturers Association - India
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Ministry of Transport, Egypt
- VISA Power Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Sree Jayajothi Cements Limited - India
- Chamber of Mines of South Africa
- Central Electricity Authority - India
- OPG Power Generation Pvt Ltd - India
- White Energy Company Limited
- Xindia Steels Limited - India
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Coalindo Energy - Indonesia
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- Medco Energi Mining Internasional
- The Treasury - Australian Government
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- The State Trading Corporation of India Ltd
- Indonesian Coal Mining Association
- Energy Link Ltd, New Zealand
- GMR Energy Limited - India
- Savvy Resources Ltd - HongKong
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Barasentosa Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- International Coal Ventures Pvt Ltd - India
- Tamil Nadu electricity Board
- Deloitte Consulting - India
- Indo Tambangraya Megah - Indonesia
- Interocean Group of Companies - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Indian Energy Exchange, India
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Metalloyd Limited - United Kingdom
- San Jose City I Power Corp, Philippines
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Borneo Indobara - Indonesia
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- PetroVietnam Power Coal Import and Supply Company
- Orica Australia Pty. Ltd.
- Latin American Coal - Colombia
- Renaissance Capital - South Africa
- Formosa Plastics Group - Taiwan
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Mjunction Services Limited - India
- Ceylon Electricity Board - Sri Lanka
- Jindal Steel & Power Ltd - India
- GAC Shipping (India) Pvt Ltd
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Baramulti Group, Indonesia
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Bangladesh Power Developement Board
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Heidelberg Cement - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- TeaM Sual Corporation - Philippines
- Dalmia Cement Bharat India
- Rashtriya Ispat Nigam Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- GN Power Mariveles Coal Plant, Philippines
- Asmin Koalindo Tuhup - Indonesia
- New Zealand Coal & Carbon
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