COALspot.com keeps you connected across the coal world
  • BUMA MINED 4.1 MMT OF COAL AND REMOVED 23.8 M BCM OF OVERBURDEN IN MARCH 2021. YEAR TO DATE, BUMA MINED 12.7 MMT OF COAL, WHICH INCREASED 5% YOY.
  • COAL FINANCING COSTS SURGE AS INVESTORS OPT FOR RENEWABLE ENERGY - THE GUARDIAN
  • INDIA MAY BUILD NEW COAL PLANTS DUE TO LOW COST DESPITE CLIMATE CHANGE - REUTERS
  • APRIL 2021 INDONESIAN COAL PRICE REFERENCE FOR EXPORTS FIXED AT US$ 86.68 A TON

Submit Your Articles
We welcome article submissions from experts in the areas of coal, mining, shipping, etc.

To Submit your article please click here.

International Energy Events


WTI Crude Oil

BRENT Crude Oil

Search News
Latest CoalNews Headlines
Tuesday, 02 February 21
WILL THE ELECTRONIC B/L BE FULLY IMPLEMENTED? FIVE POINTS TO CONSIDER - MOL
MOLKNOWLEDGE TO ELEVATE
The trend towards digitization of Bills of Lading (B/L) has begun to attract attention in the trade and shipping industries.
 
A huge volume of trade documents is steadily being digitized, but B/Ls, which are documents certifying ownership of cargo and an aspect of security, has been the last hurdle in this move. However, with the evolution of blockchain technology, the movement toward electronic B/Ls is accelerating. In the airline industry, digital Air Waybill's are already the majority and the shipping industry is expected to follow suit. On the other hand, there are still many traders who use fax, e-mail, and other means of communication to communicate with each other, and many people have doubts about the spread of electronic B/Ls. This article describes the current situation surrounding B/Ls and how B/Ls will evolve in the future.
 
Do you know about the "B/L crisis"?
The "B/L crisis" refers to a situation in which in maritime transportation with a short voyage period, such as within Asia, the cargo cannot be picked up because the original B/L has not arrived, even though the cargo has already arrived at the place of discharge.
 
For example, in case of cargos from Japan, it takes just a few days to arrive in Busan (South Korea), Shanghai (China), or Keelung (Taiwan). In these instances, even though the cargo has arrived in the destination country, it cannot be picked up due to the absence of the B/L. This has become a major problem in the short-distance maritime transportation of cargos between short distance such as Japan and other Asian countries.
 
Three Measures for the B/L crisis
However there are solutions to the "B/L crisis". The following are the three main measures currently used to address this situation;
 
(i) Surrendered B/L
A B/L is issued by a shipping company (signed by the captain of the ship for goods loaded on board his vessel), but is collected immediately after giving the B/L information to the shipper. Since the B/L is a marketable security in lieu of the cargo, the shipper (i.e. sender) will collect the payment in exchange for the B/L. Therefore, under normal circumstances, the shipper must deliver the B/L to the consignee (i.e. beneficiary) through the bank or other related party. A ‘Surrendered B/L’, on the other hand, means that the shipper sends a B/L to the shipping company which is not the consignee, and the shipping company stamps "Surrendered" or "Accomplished" on the B/L, thereby invalidating the B/L’s function as security. Then the surrender information is promptly communicated to the agent in the importing country by email or other means to ensure smooth pickup at the port of discharge. The reason why "Surrender" is convenient for the shipper is that the consignee can receive the cargo from the shipping company if there is a copy of the B/L regardless of whether it is a FAX or PDF file, which means that they can collect the payment without waiting for the B/L to be distributed.
 
(ii) Sea Waybill (Waybill)
As mentioned above, a B/L is a marketable security, but the Waybill issued by a shipping company to the shipper, is a mere document that accompanies the shipment and identifies the shipper, the recipient, where the goods originated from, and their destination. Since a Waybill is not a marketable security, it can be delivered by presenting a copy of the Waybill, so cargo can be picked up quickly. A Waybill has no risk of loss and the information on the Waybill can be easily corrected. In the case of a B/L, normally three copies are issued, whereas only one copy of a Waybill is usually issued.
 
(iii) Using a Letter of Guarantee(L/G)
Again, due to the nature of a B/L as a marketable security, in terms of business customs, using a L/G is widely practiced. In this case, the shipper provides a L/G to the shipping company, which states that the shipper will be responsible for any and all consequences of the delivery of the cargo with a bank acting as joint guarantor, and that the delivery of the cargo can be received even if it is not in exchange for the B/L. As the shipping company is obligated to deliver the cargo described in the B/L when a legitimate and valid B/L holder appears, so the delivery of cargo without a B/L is basically made in the form of a letter of guarantee, subject to the bank's joint guarantees. The bank's joint guarantee is mandatory since it cannot be countered if a legitimate B/L holder appears after the delivery. This is used when cargo transactions are settled by L/C (Letter of Credit).
 
In the situation where the distribution function, which is the characteristic of a B/L, is hindering the speed of overseas transactions, we have introduced these three countermeasures. Of them, (ii)Waybill can be said to have low trade risks because the handling of B/L is regulated in the International Uniform Rules on Letters of Credit (UCP 600) and the standard operation between export and entry is clarified. For this reason, the United Nations and the Japan Association for the Simplification of Trade Related Procedures (JASTPRO) recommend the use of Waybills. The use of Waybills is expected to increase further in the future to reduce risk and promote digitization.
 
Why digitize trade documents?
One of the problems in the practice of trade is the inefficiency of documentation and actual delivery of trade documents, resulting in high costs. The exchange of documents in trade transactions is extremely complicated, and in the case of paper-based document transactions, it is said that the same data needs to be retyped more than 10 times before it is transferred from exporters to importers, which requires considerable labor and cost.
 
The process can be reduced by digitizing the B/L, but at present, electronic B/Ls are far from widespread. One of the reasons why it is difficult to digitize is the function of the B/L as a security, which is distributed through "Endorsement". Therefore, the holder of the B/L at the time has the right to receive the cargo. However, as mentioned above, in actual trade practice, the B/L will be passed to a number of counterparties before it reaches the actual purchaser of the cargo, so the holder of the B/L at that time has to ‘endorse’ the "Endorsement" on the back of the B/L in order to distribute it. It is said that one of the obstacles to digitization is the need for a secure system to guarantee the endorsement process.
 
Another reason is that the distribution of electronic B/Ls requires coordination among the countries concerned regarding their laws and operational system of each country related to trade, as well as the system digitization.
 
It is also pointed out that B/Ls expressed as electronic records are not always widely recognized as B/Ls in every country, and it is unclear whether the Hague-Visby Rules (International Convention for the Unification of Certain Rules of Law Relating to Bills of Lading) will be applied
(Note: Even in Japan, the International Maritime Goods Transportation Act and Commercial law in Article 767 are interpreted as requiring that B/Ls must be in writing, and do not explicitly support electronic B/Ls.)
 
While there are several issues to be addressed with regard to the digitization of B/Ls, in the field of international trade, both shippers and consignees have been conducting international transactions without major hindrances (Including using the above three measures), and there was no need to introduce electronic B/Ls in a hurry. This is the main reason why the study of the digitalization of B/Ls has been delayed.
 
Efforts to digitize trade procedures
The move to electronic B/L has been around for several decades, and there are several companies providing platforms. However, all of them are still localized and a unified system that covers the entire world has yet to be developed. In order for electronic B/Ls to be distributed properly, it is necessary to have related parties, such as shippers, banks, shipping companies, and consignees, participate in the same platform. However, there remain issues such as confidentiality, and many parties are not prepared to participate.
 
On the other hand, in the field of bulk transportation, such as natural resources, the use of electronic B/Ls is expanding. In the case of natural resource transportation, the transportation cost per B/L is high, and the number of parties involved in the transportation is limited to a small number. As a result, the advantages of electronic B/Ls have begun to be recognized, such as the prevention of fraudulent transactions such as forgery of documents, and improvements in the efficiency of fund collection by speeding up distribution.
 
The use of electronic B/Ls is starting to spread as, for example, major resource companies using electronic B/Ls are now willing to use them for container transportation as well.
 
Container Shipping Company to Switch to Electronic B/L
Recently, container shipping companies have been expanding their initiatives. Ocean Network Express (ONE) which was established by MOL, NYK, and K-Lines have announced that they will promote the use of electronic B/Ls in cooperation with IT companies, and it is expected that this will facilitate B/L transactions. Many IT companies use blockchain technology to simplify and speed up procedures by ensuring reliability and digitization. This trend in container ships, which handle a large number of cargoes and are associated with a large number of shippers and consignees, is attracting a great deal of attention as a way to promote IT in the shipping industry.
 
B/Ls, which have marketable securities functions and are tradable, have been traded on a paper basis (hand delivered or mailed), but the expansion of electronic B/Ls is expected to change the container supply chain by laying the ground work for greater operational efficiency and cost reductions.
 
IBM and others have already developed individual trade information management systems that use distributed ledgers, and Southeast Asian countries are promoting the digitization of trade administration under the leadership of their government. In Japan, we have been conducting studies in the form of consortiums since 2017, and we plan to develop Japan's first platform for processing trade documents in order to fully digitize trade documents across industries.
 
Finally, the gradual global shift to digitization is a welcome development for the logistics industry. Driven by the current demand for social distancing due to the COVID-19, we may never again have to go directly to a B/L counter to pick up cargo in the near future.
 
B/Ls are issued in a variety of units, but mainly one B/L is issued per transaction. Due to the nature of cargo transactions, particularly in the case of containers and automobile transportation, a large number of documents need to be issued. Shipping companies, including MOL, are gradually making efforts to digitize these documents. The MOL Car carrier service (MOL Auto Carrier Express: MOL ACE), whose service is posted on this website, are also taking various measures to deliver customers' cargoes safely and securely.
By: Akina, MOL
Source: MOL BLOG


If you believe an article violates your rights or the rights of others, please contact us.

Recent News

Wednesday, 21 April 21
COAL FINANCING COSTS HAVE SURGED IN PAST 10 YEARS - UNIVERSITY OF OXFORD - THE GUARDIAN
Coal financing costs have surged over the last decade as investors demand returns four times as high as the payoff required from renewable energy p ...


Tuesday, 20 April 21
US DOLLAR LIBOR TRANSITION IN ASSET FINANCE - WHERE ARE WE NOW? - WATSON FARLEY & WILLIAMS
Since our last article, there has been a raft of regulatory and market body announcements relating to the transition away from LIBOR and the follow ...


Sunday, 18 April 21
INDONESIA LIKELY TO WITNESS 119 OIL AND GAS PROJECTS STARTS ACROSS VALUE CHAIN BY 2025, SAYS GLOBALDATA
Indonesia is expected to witness 119 oil and gas projects commencing their operations across value chain during 2021-2025, accounting for 6% of the ...


Sunday, 18 April 21
WORLDSTEEL RAISES 2021 STEEL DEMAND GROWTH FORECAST TO 5.8% - WORLDSTEEL
The World Steel Association (worldsteel) today released its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that steel demand wil ...


Sunday, 18 April 21
CHINA'S Q1 COAL OUTPUT RISES 16% ON STRONG DEMAND FOR WINTER HEATING - REUTERS
China’s coal output rose 16% in the first quarter from the same period last year, bolstered by strong demand for winter heating and robust in ...


   1 2 3 4 5   
Showing 1 to 5 news of total 6276
News by Category
Popular News
 
Total Members : 27,393
Member
Panelist
User ID
Password
Remember Me
By logging on you accept our TERMS OF USE.
Free
Register
Forgot Password
 
Our Members Are From ...

  • TNB Fuel Sdn Bhd - Malaysia
  • Toyota Tsusho Corporation, Japan
  • Ind-Barath Power Infra Limited - India
  • IBC Asia (S) Pte Ltd
  • Freeport Indonesia
  • PetroVietnam
  • Star Paper Mills Limited - India
  • Ministry of Finance - Indonesia
  • Bhoruka Overseas - Indonesia
  • SUEK AG - Indonesia
  • Orica Australia Pty. Ltd.
  • Thriveni
  • European Bulk Services B.V. - Netherlands
  • Ministry of Transport, Egypt
  • SMC Global Power, Philippines
  • Minerals Council of Australia
  • GAC Shipping (India) Pvt Ltd
  • Tanito Harum - Indonesia
  • Moodys - Singapore
  • Ministry of Mines - Canada
  • Mechel - Russia
  • Electricity Generating Authority of Thailand
  • Samtan Co., Ltd - South Korea
  • Indian Oil Corporation Limited
  • PLN Batubara - Indonesia
  • DBS Bank - Singapore
  • Fearnleys - India
  • Economic Council, Georgia
  • Mercator Lines Limited - India
  • APGENCO India
  • Cement Manufacturers Association - India
  • Parliament of New Zealand
  • JPMorgan - India
  • Core Mineral Indonesia
  • Geoservices-GeoAssay Lab
  • Coal Orbis AG
  • CNBM International Corporation - China
  • Bukit Asam (Persero) Tbk - Indonesia
  • Credit Suisse - India
  • London Commodity Brokers - England
  • Barasentosa Lestari - Indonesia
  • Sojitz Corporation - Japan
  • Siam City Cement PLC, Thailand
  • Petron Corporation, Philippines
  • Arutmin Indonesia
  • Shenhua Group - China
  • Semirara Mining and Power Corporation, Philippines
  • Karbindo Abesyapradhi - Indoneisa
  • Vitol - Bahrain
  • Wood Mackenzie - Singapore
  • Noble Europe Ltd - UK
  • Price Waterhouse Coopers - Russia
  • Sinarmas Energy and Mining - Indonesia
  • Bank of Tokyo Mitsubishi UFJ Ltd
  • WorleyParsons
  • Edison Trading Spa - Italy
  • Gresik Semen - Indonesia
  • ETA - Dubai
  • Singapore Mercantile Exchange
  • Essar Steel Hazira Ltd - India
  • The State Trading Corporation of India Ltd
  • Gujarat Electricity Regulatory Commission - India
  • Heidelberg Cement - Germany
  • India Bulls Power Limited - India
  • Energy Development Corp, Philippines
  • Tata Power - India
  • Mjunction Services Limited - India
  • Qatrana Cement - Jordan
  • Central Electricity Authority - India
  • Thomson Reuters GRC
  • McKinsey & Co - India
  • KPMG - USA
  • IMC Shipping - Singapore
  • Asmin Koalindo Tuhup - Indonesia
  • Panama Canal Authority
  • Coaltrans Conferences
  • Mitra SK Pvt Ltd - India
  • OPG Power Generation Pvt Ltd - India
  • Shree Cement - India
  • Borneo Indobara - Indonesia
  • Bangladesh Power Developement Board
  • Sakthi Sugars Limited - India
  • Agrawal Coal Company - India
  • Arch Coal - USA
  • Maruti Cements - India
  • CoalTek, United States
  • Maheswari Brothers Coal Limited - India
  • Vijayanagar Sugar Pvt Ltd - India
  • Coal India Limited
  • Japan Coal Energy Center
  • Pendopo Energi Batubara - Indonesia
  • Glencore India Pvt. Ltd
  • Russian Coal LLC
  • Kumho Petrochemical, South Korea
  • Meenaskhi Energy Private Limited - India
  • HSBC - Hong Kong
  • Jorong Barutama Greston.PT - Indonesia
  • Siam City Cement - Thailand
  • Tamil Nadu electricity Board
  • Dalmia Cement Bharat India
  • Videocon Industries ltd - India
  • Gujarat Mineral Development Corp Ltd - India
  • Standard Chartered Bank - UAE
  • Ince & co LLP
  • GB Group - China
  • Sindya Power Generating Company Private Ltd
  • TNPL - India
  • Straits Asia Resources Limited - Singapore
  • Eastern Energy - Thailand
  • Posco Energy - South Korea
  • Offshore Bulk Terminal Pte Ltd, Singapore
  • Dong Bac Coal Mineral Investment Coporation - Vietnam
  • Coeclerici Indonesia
  • White Energy Company Limited
  • Trasteel International SA, Italy
  • Lanco Infratech Ltd - India
  • Merrill Lynch Bank
  • Bank of America
  • ANZ Bank - Australia
  • bp singapore
  • Holcim Trading Pte Ltd - Singapore
  • Cosco
  • Riau Bara Harum - Indonesia
  • Georgia Ports Authority, United States
  • Mintek Dendrill Indonesia
  • globalCOAL - UK
  • Chettinad Cement Corporation Ltd - India
  • BRS Brokers - Singapore
  • Leighton Contractors Pty Ltd - Australia
  • Marubeni Corporation - India
  • Meralco Power Generation, Philippines
  • Cigading International Bulk Terminal - Indonesia
  • Humpuss - Indonesia
  • Berau Coal - Indonesia
  • Xstrata Coal
  • Larsen & Toubro Limited - India
  • Jatenergy - Australia
  • Independent Power Producers Association of India
  • Port Waratah Coal Services - Australia
  • UOB Asia (HK) Ltd
  • Sucofindo - Indonesia
  • Barclays Capital - USA
  • New Zealand Coal & Carbon
  • Truba Alam Manunggal Engineering.Tbk - Indonesia
  • Kartika Selabumi Mining - Indonesia
  • PLN - Indonesia
  • Cebu Energy, Philippines
  • Commonwealth Bank - Australia
  • GN Power Mariveles Coal Plant, Philippines
  • Parry Sugars Refinery, India
  • Jaiprakash Power Ventures ltd
  • Petrochimia International Co. Ltd.- Taiwan
  • TANGEDCO India
  • Global Coal Blending Company Limited - Australia
  • Maharashtra Electricity Regulatory Commission - India
  • IOL Indonesia
  • Merrill Lynch Commodities Europe
  • Eastern Coal Council - USA
  • Romanian Commodities Exchange
  • International Coal Ventures Pvt Ltd - India
  • PetroVietnam Power Coal Import and Supply Company
  • Mitsui
  • Total Coal South Africa
  • Orica Mining Services - Indonesia
  • SMG Consultants - Indonesia
  • Bahari Cakrawala Sebuku - Indonesia
  • Australian Commodity Traders Exchange
  • Xindia Steels Limited - India
  • Bukit Baiduri Energy - Indonesia
  • GMR Energy Limited - India
  • Ceylon Electricity Board - Sri Lanka
  • Krishnapatnam Port Company Ltd. - India
  • Aditya Birla Group - India
  • CESC Limited - India
  • Kohat Cement Company Ltd. - Pakistan
  • Iligan Light & Power Inc, Philippines
  • U S Energy Resources
  • Planning Commission, India
  • MEC Coal - Indonesia
  • GHCL Limited - India
  • Global Green Power PLC Corporation, Philippines
  • Semirara Mining Corp, Philippines
  • Inco-Indonesia
  • Globalindo Alam Lestari - Indonesia
  • Global Business Power Corporation, Philippines
  • Samsung - South Korea
  • KPCL - India
  • Coal and Oil Company - UAE
  • Rudhra Energy - India
  • Maersk Broker
  • Inspectorate - India
  • Kobexindo Tractors - Indoneisa
  • Africa Commodities Group - South Africa
  • Carbofer General Trading SA - India
  • Jindal Steel & Power Ltd - India
  • Bank of China, Malaysia
  • World Bank
  • Bukit Makmur.PT - Indonesia
  • SRK Consulting
  • Sarangani Energy Corporation, Philippines
  • Gujarat Sidhee Cement - India
  • Chamber of Mines of South Africa
  • PowerSource Philippines DevCo
  • Dr Ramakrishna Prasad Power Pvt Ltd - India
  • Directorate Of Revenue Intelligence - India
  • NALCO India
  • Timah Investasi Mineral - Indoneisa
  • Deloitte Consulting - India
  • Malabar Cements Ltd - India
  • Asia Pacific Energy Resources Ventures Inc, Philippines
  • MS Steel International - UAE
  • Asian Development Bank
  • Surastha Cement
  • Petrosea - Indonesia
  • Peabody Energy - USA
  • Uttam Galva Steels Limited - India
  • Mitsubishi Corporation
  • Infraline Energy - India
  • Goldman Sachs - Singapore
  • Adaro Indonesia
  • Ambuja Cements Ltd - India
  • Sree Jayajothi Cements Limited - India
  • IHS Mccloskey Coal Group - USA
  • Attock Cement Pakistan Limited
  • Thiess Contractors Indonesia
  • Grasim Industreis Ltd - India
  • Deutsche Bank - India
  • UBS Singapore
  • NTPC Limited - India
  • Bangkok Bank PCL
  • Asia Cement - Taiwan
  • Binh Thuan Hamico - Vietnam
  • Indonesian Coal Mining Association
  • PTC India Limited - India
  • Energy Link Ltd, New Zealand
  • Formosa Plastics Group - Taiwan
  • Makarim & Taira - Indonesia
  • Maybank - Singapore
  • Central Java Power - Indonesia
  • Thai Mozambique Logistica
  • Oldendorff Carriers - Singapore
  • Clarksons - UK
  • Enel Italy
  • Tata Chemicals Ltd - India
  • Idemitsu - Japan
  • Pinang Coal Indonesia
  • Vale Mozambique
  • Platts
  • Platou - Singapore
  • EMO - The Netherlands
  • Kideco Jaya Agung - Indonesia
  • Coalindo Energy - Indonesia
  • ING Bank NV - Singapore
  • Sical Logistics Limited - India
  • Cargill India Pvt Ltd
  • AsiaOL BioFuels Corp., Philippines
  • Simpson Spence & Young - Indonesia
  • OCBC - Singapore
  • Thermax Limited - India
  • Electricity Authority, New Zealand
  • Coastal Gujarat Power Limited - India
  • TGV SRAAC LIMITED, India
  • Power Finance Corporation Ltd., India
  • Rashtriya Ispat Nigam Limited - India
  • IEA Clean Coal Centre - UK
  • Britmindo - Indonesia
  • Billiton Holdings Pty Ltd - Australia
  • Mercuria Energy - Indonesia
  • Lafarge - France
  • TeaM Sual Corporation - Philippines
  • Alfred C Toepfer International GmbH - Germany
  • Neyveli Lignite Corporation Ltd, - India
  • Indogreen Group - Indonesia
  • CIMB Investment Bank - Malaysia
  • Intertek Mineral Services - Indonesia
  • ACC Limited - India
  • Filglen & Citicon Mining (HK) Ltd - Hong Kong
  • Anglo American - United Kingdom
  • Antam Resourcindo - Indonesia
  • Karaikal Port Pvt Ltd - India
  • Pipit Mutiara Jaya. PT, Indonesia
  • Reliance Power - India
  • KOWEPO - South Korea
  • Manunggal Multi Energi - Indonesia
  • Bhatia International Limited - India
  • World Coal - UK
  • GVK Power & Infra Limited - India
  • GNFC Limited - India
  • Baramulti Group, Indonesia
  • SN Aboitiz Power Inc, Philippines
  • Bhushan Steel Limited - India
  • Vedanta Resources Plc - India
  • ASAPP Information Group - India
  • Indorama - Singapore
  • Salva Resources Pvt Ltd - India
  • SASOL - South Africa
  • Latin American Coal - Colombia
  • TRAFIGURA, South Korea
  • Therma Luzon, Inc, Philippines
  • Permata Bank - Indonesia
  • McConnell Dowell - Australia
  • Indian Energy Exchange, India
  • Metalloyd Limited - United Kingdom
  • Adani Power Ltd - India
  • JPower - Japan
  • Altura Mining Limited, Indonesia
  • Kepco SPC Power Corporation, Philippines
  • Indonesia Power. PT
  • Directorate General of MIneral and Coal - Indonesia
  • Cardiff University - UK
  • RBS Sempra - UK
  • KEPCO - South Korea
  • The University of Queensland
  • Runge Indonesia
  • San Jose City I Power Corp, Philippines
  • Gupta Coal India Ltd
  • Indian School of Mines
  • EIA - United States
  • Australian Coal Association
  • LBH Netherlands Bv - Netherlands
  • Indika Energy - Indonesia
  • Indo Tambangraya Megah - Indonesia
  • Banpu Public Company Limited - Thailand
  • Kalimantan Lumbung Energi - Indonesia
  • Malco - India
  • Wilmar Investment Holdings
  • Kapuas Tunggal Persada - Indonesia
  • Rio Tinto Coal - Australia
  • J M Baxi & Co - India
  • Medco Energi Mining Internasional
  • The Treasury - Australian Government
  • PNOC Exploration Corporation - Philippines
  • Kaltim Prima Coal - Indonesia
  • Vizag Seaport Private Limited - India
  • BNP Paribas - Singapore
  • Ernst & Young Pvt. Ltd.
  • Thailand Anthracite
  • Renaissance Capital - South Africa
  • ICICI Bank Limited - India
  • SGS (Thailand) Limited
  • Miang Besar Coal Terminal - Indonesia
  • Bayan Resources Tbk. - Indonesia
  • VISA Power Limited - India
  • South Luzon Thermal Energy Corporation
  • Madhucon Powers Ltd - India
  • Aboitiz Power Corporation - Philippines
  • Cemex - Philippines
  • Argus Media - Singapore
  • The India Cements Ltd
  • Bharathi Cement Corporation - India
  • Interocean Group of Companies - India
  • Bulk Trading Sa - Switzerland
  • Kobe Steel Ltd - Japan
  • Savvy Resources Ltd - HongKong
  • CCIC - Indonesia