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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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- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- Mintek Dendrill Indonesia
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- ASAPP Information Group - India
- Planning Commission, India
- Commonwealth Bank - Australia
- Carbofer General Trading SA - India
- Metalloyd Limited - United Kingdom
- Baramulti Group, Indonesia
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Wilmar Investment Holdings
- Rio Tinto Coal - Australia
- Bhushan Steel Limited - India
- Central Electricity Authority - India
- Chettinad Cement Corporation Ltd - India
- Electricity Authority, New Zealand
- Coalindo Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Posco Energy - South Korea
- SMG Consultants - Indonesia
- Manunggal Multi Energi - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Jindal Steel & Power Ltd - India
- Toyota Tsusho Corporation, Japan
- Energy Development Corp, Philippines
- Ind-Barath Power Infra Limited - India
- IEA Clean Coal Centre - UK
- Attock Cement Pakistan Limited
- Meralco Power Generation, Philippines
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Coal and Oil Company - UAE
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Thai Mozambique Logistica
- CNBM International Corporation - China
- Cigading International Bulk Terminal - Indonesia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Bhoruka Overseas - Indonesia
- Chamber of Mines of South Africa
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Miang Besar Coal Terminal - Indonesia
- Power Finance Corporation Ltd., India
- Kumho Petrochemical, South Korea
- Siam City Cement - Thailand
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Interocean Group of Companies - India
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- Renaissance Capital - South Africa
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- London Commodity Brokers - England
- Indian Oil Corporation Limited
- Binh Thuan Hamico - Vietnam
- Ambuja Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Samtan Co., Ltd - South Korea
- Parliament of New Zealand
- Mercator Lines Limited - India
- Electricity Generating Authority of Thailand
- Orica Australia Pty. Ltd.
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Eastern Coal Council - USA
- South Luzon Thermal Energy Corporation
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Straits Asia Resources Limited - Singapore
- Dalmia Cement Bharat India
- Ministry of Transport, Egypt
- Petron Corporation, Philippines
- Indogreen Group - Indonesia
- The University of Queensland
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Leighton Contractors Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Heidelberg Cement - Germany
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Romanian Commodities Exchange
- GMR Energy Limited - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- GAC Shipping (India) Pvt Ltd
- Africa Commodities Group - South Africa
- Semirara Mining and Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Uttam Galva Steels Limited - India
- Sindya Power Generating Company Private Ltd
- Kideco Jaya Agung - Indonesia
- Riau Bara Harum - Indonesia
- India Bulls Power Limited - India
- Billiton Holdings Pty Ltd - Australia
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Tamil Nadu electricity Board
- Rashtriya Ispat Nigam Limited - India
- Central Java Power - Indonesia
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Wood Mackenzie - Singapore
- Standard Chartered Bank - UAE
- Anglo American - United Kingdom
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Mines - Canada
- Mjunction Services Limited - India
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Bukit Asam (Persero) Tbk - Indonesia
- Meenaskhi Energy Private Limited - India
- Salva Resources Pvt Ltd - India
- Bhatia International Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Neyveli Lignite Corporation Ltd, - India
- Bulk Trading Sa - Switzerland
- IHS Mccloskey Coal Group - USA
- Malabar Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Ministry of Finance - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Sojitz Corporation - Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Minerals Council of Australia
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- SN Aboitiz Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- VISA Power Limited - India
- Kobexindo Tractors - Indoneisa
- Formosa Plastics Group - Taiwan
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Lanco Infratech Ltd - India
- Siam City Cement PLC, Thailand
- Deloitte Consulting - India
- Orica Mining Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Trasteel International SA, Italy
- Kartika Selabumi Mining - Indonesia
- Videocon Industries ltd - India
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Holcim Trading Pte Ltd - Singapore
- Kepco SPC Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Edison Trading Spa - Italy
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
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