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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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Sunday, 08 March 09
AUSTRALIA'S FELIX STUDYING COAL ACQUISITIONS IN INDIA, INDONESIA
Bloomberg reported that, Felix Resources Ltd., an Australian supplier of coal to Korea and Japan, is studying acquisitions of energy coal assets in ...
Saturday, 07 March 09
THERMAL COAL PRICES MAY DROP, STANDARD CHARTERED SAYS
Bloomberg reported that, Coal prices may decline as a slump in demand for the fuel outpaces cuts in production, Standard Chartered Plc said.
Exp ...
Friday, 06 March 09
STRAITS ASIA EYES 3RD MINE
Straitstimes reported that, Mining company Straits Asia Resources is on an expansion trail to more than double its output by 2012.
Amid the econo ...
Friday, 06 March 09
INDONESIA MAY MISS 2009 COAL OUTPUT TARGET-OFFICIAL
Indonesia, the world's top thermal coal exporter, may fail to achieve its coal production target this year as the global economic crisis dents dema ...
Friday, 06 March 09
POWER FIRMS HEAD TO INDONESIA FOR COAL
The Hindu Businessline reported that, The enactment of a new, more liberal, mining legislation in Indonesia is drawing coal-starved Indian power uti ...
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- South Luzon Thermal Energy Corporation
- Wood Mackenzie - Singapore
- Deloitte Consulting - India
- Energy Link Ltd, New Zealand
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Larsen & Toubro Limited - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Renaissance Capital - South Africa
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Uttam Galva Steels Limited - India
- The University of Queensland
- London Commodity Brokers - England
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- CNBM International Corporation - China
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Sarangani Energy Corporation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Iligan Light & Power Inc, Philippines
- PowerSource Philippines DevCo
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Binh Thuan Hamico - Vietnam
- Formosa Plastics Group - Taiwan
- Economic Council, Georgia
- Bulk Trading Sa - Switzerland
- Standard Chartered Bank - UAE
- Commonwealth Bank - Australia
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Electricity Generating Authority of Thailand
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Directorate General of MIneral and Coal - Indonesia
- SMG Consultants - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Mjunction Services Limited - India
- Rio Tinto Coal - Australia
- GVK Power & Infra Limited - India
- Medco Energi Mining Internasional
- Makarim & Taira - Indonesia
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- VISA Power Limited - India
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Cigading International Bulk Terminal - Indonesia
- Central Java Power - Indonesia
- Independent Power Producers Association of India
- Georgia Ports Authority, United States
- Kaltim Prima Coal - Indonesia
- Mintek Dendrill Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Orica Australia Pty. Ltd.
- Straits Asia Resources Limited - Singapore
- Edison Trading Spa - Italy
- Salva Resources Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- TeaM Sual Corporation - Philippines
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Energy Development Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Grasim Industreis Ltd - India
- Eastern Energy - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Petron Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Carbofer General Trading SA - India
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- PTC India Limited - India
- Manunggal Multi Energi - Indonesia
- Planning Commission, India
- Sinarmas Energy and Mining - Indonesia
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Indo Tambangraya Megah - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- Wilmar Investment Holdings
- Coalindo Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Trasteel International SA, Italy
- Thiess Contractors Indonesia
- GAC Shipping (India) Pvt Ltd
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- Romanian Commodities Exchange
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Vizag Seaport Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Simpson Spence & Young - Indonesia
- Metalloyd Limited - United Kingdom
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- International Coal Ventures Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Intertek Mineral Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Indika Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Orica Mining Services - Indonesia
- San Jose City I Power Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Ceylon Electricity Board - Sri Lanka
- MS Steel International - UAE
- Essar Steel Hazira Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Sree Jayajothi Cements Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Electricity Authority, New Zealand
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- Leighton Contractors Pty Ltd - Australia
- Aditya Birla Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- OPG Power Generation Pvt Ltd - India
- Vedanta Resources Plc - India
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Oldendorff Carriers - Singapore
- Directorate Of Revenue Intelligence - India
- Kartika Selabumi Mining - Indonesia
- Power Finance Corporation Ltd., India
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bhatia International Limited - India
- McConnell Dowell - Australia
- Siam City Cement PLC, Thailand
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Bukit Makmur.PT - Indonesia
- Indian Energy Exchange, India
- GN Power Mariveles Coal Plant, Philippines
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Aboitiz Power Corporation - Philippines
- Alfred C Toepfer International GmbH - Germany
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Meralco Power Generation, Philippines
- Australian Coal Association
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