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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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Friday, 06 March 09
CHURCHILL STARTS REVERSE DRILLING AT INDONESIAN COAL PROJECT
Miningweekly reported that, Aim-listed minerals explorer Churchill Mining on Thursday stated that reverse drilling at its East Kutai coal project (E ...
Thursday, 05 March 09
UAE FUND PLANS INDONESIA COAL RAIL LINK
News.alibaba reported that, A United Arab Emirates' fund signed a memorandum of understanding on Monday (2 March 2009) with an Indonesian prov ...
Thursday, 05 March 09
CHINA COAL-PRICES LITTLE CHANGED DESPITE PLUNGE ABROAD
China's spot coal prices were little changed from a week earlier, despite the sharp fall in the international market, and demand for coal remains s ...
Thursday, 05 March 09
RAK TO BUILD COAL FIRED POWER STATION
The National Ras al Khaimah, which is developing a coal mine in Indonesia, will build a coal-fired power plant in the emirate in the next two years ...
Wednesday, 04 March 09
COAL: GLOBAL DEMAND WEAKENS
The Jakarta Post reported that, While coal prices were stickier on the way down compared to other commodities like oil, the Newcastle price now sugg ...
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- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Economic Council, Georgia
- Port Waratah Coal Services - Australia
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Cement Manufacturers Association - India
- White Energy Company Limited
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Petrochimia International Co. Ltd.- Taiwan
- Bharathi Cement Corporation - India
- Wilmar Investment Holdings
- SN Aboitiz Power Inc, Philippines
- GVK Power & Infra Limited - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- Simpson Spence & Young - Indonesia
- Thai Mozambique Logistica
- Xindia Steels Limited - India
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- IEA Clean Coal Centre - UK
- Pendopo Energi Batubara - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Maharashtra Electricity Regulatory Commission - India
- Marubeni Corporation - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Star Paper Mills Limited - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- ICICI Bank Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Karaikal Port Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Baramulti Group, Indonesia
- Tamil Nadu electricity Board
- Pipit Mutiara Jaya. PT, Indonesia
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Bhushan Steel Limited - India
- Maheswari Brothers Coal Limited - India
- Neyveli Lignite Corporation Ltd, - India
- San Jose City I Power Corp, Philippines
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Savvy Resources Ltd - HongKong
- Manunggal Multi Energi - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- Binh Thuan Hamico - Vietnam
- Mintek Dendrill Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Bhoruka Overseas - Indonesia
- Malabar Cements Ltd - India
- ASAPP Information Group - India
- Tata Chemicals Ltd - India
- Singapore Mercantile Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Agrawal Coal Company - India
- Minerals Council of Australia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Lanco Infratech Ltd - India
- Merrill Lynch Commodities Europe
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Sarangani Energy Corporation, Philippines
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Larsen & Toubro Limited - India
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Carbofer General Trading SA - India
- Sical Logistics Limited - India
- Miang Besar Coal Terminal - Indonesia
- Australian Commodity Traders Exchange
- Independent Power Producers Association of India
- OPG Power Generation Pvt Ltd - India
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Eastern Coal Council - USA
- Central Java Power - Indonesia
- Kumho Petrochemical, South Korea
- Sindya Power Generating Company Private Ltd
- Power Finance Corporation Ltd., India
- Banpu Public Company Limited - Thailand
- London Commodity Brokers - England
- Oldendorff Carriers - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Orica Mining Services - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Oil Corporation Limited
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- International Coal Ventures Pvt Ltd - India
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Holcim Trading Pte Ltd - Singapore
- Deloitte Consulting - India
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- Anglo American - United Kingdom
- Commonwealth Bank - Australia
- CIMB Investment Bank - Malaysia
- TeaM Sual Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Samtan Co., Ltd - South Korea
- Indo Tambangraya Megah - Indonesia
- Vedanta Resources Plc - India
- PowerSource Philippines DevCo
- Intertek Mineral Services - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The Treasury - Australian Government
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Dalmia Cement Bharat India
- Renaissance Capital - South Africa
- Bangladesh Power Developement Board
- Parry Sugars Refinery, India
- Metalloyd Limited - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Altura Mining Limited, Indonesia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Indogreen Group - Indonesia
- Mercator Lines Limited - India
- VISA Power Limited - India
- India Bulls Power Limited - India
- South Luzon Thermal Energy Corporation
- Ministry of Transport, Egypt
- Wood Mackenzie - Singapore
- Kapuas Tunggal Persada - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Borneo Indobara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Kartika Selabumi Mining - Indonesia
- Indika Energy - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Jindal Steel & Power Ltd - India
- Madhucon Powers Ltd - India
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Global Green Power PLC Corporation, Philippines
- Central Electricity Authority - India
- Kaltim Prima Coal - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- Vizag Seaport Private Limited - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- SMG Consultants - Indonesia
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Mercuria Energy - Indonesia
- Videocon Industries ltd - India
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Bukit Asam (Persero) Tbk - Indonesia
- Aboitiz Power Corporation - Philippines
- Africa Commodities Group - South Africa
- SMC Global Power, Philippines
- Gujarat Electricity Regulatory Commission - India
- IHS Mccloskey Coal Group - USA
- Ministry of Finance - Indonesia
- GMR Energy Limited - India
- Posco Energy - South Korea
- Georgia Ports Authority, United States
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
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