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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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Thursday, 12 March 09
ANALYSIS-FIRST NEW JAPAN COAL DEAL MAY NOT SET BENCHMARK - FOREXPROS.COM
* Informal coal-deal practice may come to an end this year
* Buyers expected to ask for a discount
* Biggest losers may be Chinese coal suppli ...
Thursday, 12 March 09
DEPARTMENT RECEIVES REPORT FROM GEOLOGICAL BODY AND NEDO - ESDM
The Geological Body of the Department of Energy and Mineral Resources have presented their Joint Study on Evaluation of Coal Resources and Reserves ...
Wednesday, 11 March 09
TENAGA SHARES CLIMB AS LOWER COAL PRICES CUT COSTS - BLOOMBERG
Bloomberg reported that, Tenaga Nasional Bhd., Malaysia’s state-controlled utility, climbed the most in a month in Kuala Lumpur trading as coal ...
Wednesday, 11 March 09
POSCO WINS 63% CUT IN PULVERIZED COAL PRICES, MACQUARIE SAYS - BLOOMBERG
Bloomberg reported that, Posco, Asia’s third-biggest steelmaker, has settled the first pulverized coal contracts for 2009 at $90 a metric ton ...
Wednesday, 11 March 09
COAL EXPORTERS FEEL THE CHILL FROM ASIAN DOWNTURN -BUSINESS.SMH.COM
Business.smh.com reproted that, The demand for thermal coal - NSW's most valuable export - has begun to reduce dramatically in response to the need ...
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- Sakthi Sugars Limited - India
- Romanian Commodities Exchange
- Intertek Mineral Services - Indonesia
- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- CIMB Investment Bank - Malaysia
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Indika Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Renaissance Capital - South Africa
- Ceylon Electricity Board - Sri Lanka
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Madhucon Powers Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Binh Thuan Hamico - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Bharathi Cement Corporation - India
- CNBM International Corporation - China
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Petrochimia International Co. Ltd.- Taiwan
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Mintek Dendrill Indonesia
- GVK Power & Infra Limited - India
- GAC Shipping (India) Pvt Ltd
- Karbindo Abesyapradhi - Indoneisa
- London Commodity Brokers - England
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Goldman Sachs - Singapore
- Sindya Power Generating Company Private Ltd
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Directorate Of Revenue Intelligence - India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Energy Development Corp, Philippines
- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Port Waratah Coal Services - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Maheswari Brothers Coal Limited - India
- Georgia Ports Authority, United States
- Pipit Mutiara Jaya. PT, Indonesia
- Grasim Industreis Ltd - India
- India Bulls Power Limited - India
- Siam City Cement PLC, Thailand
- Bhushan Steel Limited - India
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Mjunction Services Limited - India
- Energy Link Ltd, New Zealand
- Australian Commodity Traders Exchange
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- Indogreen Group - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Jindal Steel & Power Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Eastern Energy - Thailand
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- PetroVietnam Power Coal Import and Supply Company
- Samtan Co., Ltd - South Korea
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Uttam Galva Steels Limited - India
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Bukit Makmur.PT - Indonesia
- Latin American Coal - Colombia
- Pendopo Energi Batubara - Indonesia
- Aditya Birla Group - India
- Alfred C Toepfer International GmbH - Germany
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- ASAPP Information Group - India
- Mercator Lines Limited - India
- Bhatia International Limited - India
- Gujarat Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Sical Logistics Limited - India
- Central Electricity Authority - India
- Ministry of Transport, Egypt
- Asmin Koalindo Tuhup - Indonesia
- VISA Power Limited - India
- SMC Global Power, Philippines
- Australian Coal Association
- Larsen & Toubro Limited - India
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- Maharashtra Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- PNOC Exploration Corporation - Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Indo Tambangraya Megah - Indonesia
- Ministry of Finance - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- The Treasury - Australian Government
- Riau Bara Harum - Indonesia
- Karaikal Port Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Marubeni Corporation - India
- Wilmar Investment Holdings
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Globalindo Alam Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ind-Barath Power Infra Limited - India
- Baramulti Group, Indonesia
- Edison Trading Spa - Italy
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Holcim Trading Pte Ltd - Singapore
- McConnell Dowell - Australia
- Standard Chartered Bank - UAE
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Carbofer General Trading SA - India
- Price Waterhouse Coopers - Russia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Chamber of Mines of South Africa
- Petron Corporation, Philippines
- Kepco SPC Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Eastern Coal Council - USA
- Gujarat Sidhee Cement - India
- Videocon Industries ltd - India
- Formosa Plastics Group - Taiwan
- Jaiprakash Power Ventures ltd
- Bukit Baiduri Energy - Indonesia
- Antam Resourcindo - Indonesia
- Cement Manufacturers Association - India
- IEA Clean Coal Centre - UK
- Trasteel International SA, Italy
- Vedanta Resources Plc - India
- PTC India Limited - India
- South Luzon Thermal Energy Corporation
- Bulk Trading Sa - Switzerland
- Neyveli Lignite Corporation Ltd, - India
- MS Steel International - UAE
- Sree Jayajothi Cements Limited - India
- Toyota Tsusho Corporation, Japan
- Malabar Cements Ltd - India
- Independent Power Producers Association of India
- Ambuja Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Kaltim Prima Coal - Indonesia
- Oldendorff Carriers - Singapore
- SN Aboitiz Power Inc, Philippines
- Thiess Contractors Indonesia
- Ministry of Mines - Canada
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- The State Trading Corporation of India Ltd
- Power Finance Corporation Ltd., India
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Semirara Mining Corp, Philippines
- Therma Luzon, Inc, Philippines
- OPG Power Generation Pvt Ltd - India
- TeaM Sual Corporation - Philippines
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