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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, 18 March 09
MANILA'S NAPOCOR SAYS BIDDING FOR 100,000T COAL FAILS - REUTERS
Top Philippine electricityproducer National Power Corp (Napocor) was unable to secure 100,000 tonnes of local coal for one of its power plantsfollow ...
Wednesday, 18 March 09
INDONESIA'S PLN APPOINTS KPC TO SUPPLY COAL - REUTERS
State electricity firm Perusahaan Listrik Negara (PLN) appointed PT Kaltim Prima Coal to supply 1 million tonnes of coal per annum to Tanjung Jati B ...
Monday, 16 March 09
TATA POWER HAS NO PLAN TO SELL STAKE IN INDONESIA BUMI MINES - BLOOMBERG
Tata Power Co., India’s biggest electricity generator outside state control, said it has “no intention” to sell its stake in two I ...
Monday, 16 March 09
ANTAM SELECTS PARTNERS FOR POMALAA POWER PLANT - THE JAKARTA POST
PT Aneka Tambang Tbk, Indonesia’s second-largest nickel producer, said it intended to develop a $300 million coal-fired plant in Pomalaa, Sout ...
Monday, 16 March 09
ADARO TO BOLSTER SUPPLY CHAIN THROUGH ACQUISITIONS - THE JAKARTA POST
PT Adaro Energy Tbk, Indonesia's second-largest coal producer, plans to acquire a coal barging and transshipment company to improve its supply chai ...
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- Binh Thuan Hamico - Vietnam
- Eastern Energy - Thailand
- Coastal Gujarat Power Limited - India
- Jaiprakash Power Ventures ltd
- Siam City Cement PLC, Thailand
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Independent Power Producers Association of India
- PNOC Exploration Corporation - Philippines
- Antam Resourcindo - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Medco Energi Mining Internasional
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bulk Trading Sa - Switzerland
- Commonwealth Bank - Australia
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Pendopo Energi Batubara - Indonesia
- Ministry of Finance - Indonesia
- Toyota Tsusho Corporation, Japan
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Chamber of Mines of South Africa
- PetroVietnam Power Coal Import and Supply Company
- Indonesian Coal Mining Association
- Mercator Lines Limited - India
- Indika Energy - Indonesia
- Riau Bara Harum - Indonesia
- Grasim Industreis Ltd - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Semirara Mining Corp, Philippines
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Sical Logistics Limited - India
- Sarangani Energy Corporation, Philippines
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Bayan Resources Tbk. - Indonesia
- Bukit Makmur.PT - Indonesia
- LBH Netherlands Bv - Netherlands
- Chettinad Cement Corporation Ltd - India
- Renaissance Capital - South Africa
- Parliament of New Zealand
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Minerals Council of Australia
- Deloitte Consulting - India
- The Treasury - Australian Government
- Gujarat Electricity Regulatory Commission - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- Central Electricity Authority - India
- IEA Clean Coal Centre - UK
- Iligan Light & Power Inc, Philippines
- Gujarat Sidhee Cement - India
- Orica Australia Pty. Ltd.
- Tata Chemicals Ltd - India
- Meenaskhi Energy Private Limited - India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- SMG Consultants - Indonesia
- Parry Sugars Refinery, India
- Aboitiz Power Corporation - Philippines
- Sree Jayajothi Cements Limited - India
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- IHS Mccloskey Coal Group - USA
- SN Aboitiz Power Inc, Philippines
- Siam City Cement - Thailand
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Africa Commodities Group - South Africa
- TeaM Sual Corporation - Philippines
- Agrawal Coal Company - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vedanta Resources Plc - India
- ASAPP Information Group - India
- Billiton Holdings Pty Ltd - Australia
- Sinarmas Energy and Mining - Indonesia
- Meralco Power Generation, Philippines
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- San Jose City I Power Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Savvy Resources Ltd - HongKong
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Orica Mining Services - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Holcim Trading Pte Ltd - Singapore
- The University of Queensland
- Wilmar Investment Holdings
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Makarim & Taira - Indonesia
- Globalindo Alam Lestari - Indonesia
- Central Java Power - Indonesia
- Mjunction Services Limited - India
- Bukit Baiduri Energy - Indonesia
- Therma Luzon, Inc, Philippines
- SMC Global Power, Philippines
- Coal and Oil Company - UAE
- White Energy Company Limited
- Anglo American - United Kingdom
- Mercuria Energy - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ministry of Mines - Canada
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- PowerSource Philippines DevCo
- TNB Fuel Sdn Bhd - Malaysia
- South Luzon Thermal Energy Corporation
- Global Green Power PLC Corporation, Philippines
- Edison Trading Spa - Italy
- Banpu Public Company Limited - Thailand
- Energy Development Corp, Philippines
- Directorate Of Revenue Intelligence - India
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Georgia Ports Authority, United States
- Wood Mackenzie - Singapore
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Dalmia Cement Bharat India
- Energy Link Ltd, New Zealand
- Pipit Mutiara Jaya. PT, Indonesia
- Uttam Galva Steels Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Eastern Coal Council - USA
- Coalindo Energy - Indonesia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Xindia Steels Limited - India
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- Bhushan Steel Limited - India
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Planning Commission, India
- Lanco Infratech Ltd - India
- Ind-Barath Power Infra Limited - India
- Thiess Contractors Indonesia
- Australian Coal Association
- Mintek Dendrill Indonesia
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Economic Council, Georgia
- PTC India Limited - India
- Thai Mozambique Logistica
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Neyveli Lignite Corporation Ltd, - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ministry of Transport, Egypt
- Baramulti Group, Indonesia
- Bhatia International Limited - India
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
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