We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Tuesday, 28 April 09
S'PORE COURT RULES AGAINST DEUTSCHE ON ASSET SALE - REUTERS
Singapore's highest court has ruled that Deutsche Bank (DBKGn.DE) may have to pay unspecified damages to an investment firm as it did not get the best price for Indonesian assets that were sold in 2001 to settle a debt.
The case, which has its origins in the 1997/98 Asian financial crisis, involves a 40 percent stake in PT Adaro Energy (ADRO.JK), Indonesia's second-largest coal miner, and pits Germany's largest lender against Beckkett, a Singapore investment firm linked to Sukanto Tanoto, one of Indonesia's richest men.
The dispute involved claims and counterclaims in the tens of millions of dollars.
In a judgement on Monday, Singapore's Court of Appeal said Deutsche Bank did not take proper steps to sell a 74.2 percent stake in a firm called Swabara Mining at the best price. The shares had been pledged as security for a $100 million loan, court documents show.
The shares in Swabara, whose assets included the Adaro stake, belonged to Beckkett. The Swabara shares were sold by Deutsche for about $46 million to an investment firm linked to the Soeryadjayas, a wealthy Indonesian family.
The Singapore court ordered that Deutsche pay damages based on the valuation of the pledged shares, although it did not specify the amount. The compensation due to Beckkett will be assessed at a hearing before a registrar at a future date.
The court, however, also upheld Deutsche's claim that it suffered a loss of $86.9 million, which was the balance of the loan after the sale of the pledged shares plus interest and costs.
UBS analyst Andreas Bokkenheuser said in a note to clients on Tuesday the Singapore judgement created "an overhang" risk in that Beckkett's claim could be extended to Adaro.
The ruling may also delay an upcoming sale of a 17 percent stake in Adaro by a group of minority shareholders, UBS said.
Adaro's shares fell almost 2 percent on Tuesday after news of the judgement, versus a 1.3 percent gain in the Jakarta bourse .JKSE.
In a statement on Tuesday, Beckkett said the damages owed by Deutsche could be "in excess of $150 million" even after settling Deutsche's counterclaim in full.
Beckkett said it arrived at the figure after referencing Deutsche's own valuation of the assets held by Swabara.
Deutsche spokesman Michael West, however, described Beckkett's calculation as "entirely speculative".
"Beckkett has to still prove that it suffered a loss," Deutsche said in a statement. "Deutsche will present evidence for the first time to the court in support of its valuation of the shares" at the upcoming registrar's hearing, the bank said. (Additional reporting by Saeed Azhar; Editing by Neil Chatterjee & Ian Geoghegan)
Source: http://uk.reuters.com/article/oilRpt/idUKSIN46298020090428?pageNumber=2&virtualBrandChannel=0&sp=true
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 04 June 09
CHINA QINHUANGDAO COAL STOCK JUMPS BY 36.2% MOM - STEELGURU
SteelGuru reported that, Sources indicated that, coal stock at Qinhuangdao port, China's major coal port has reached 4.88 million tonnes increasing ...
Thursday, 04 June 09
ASIA COAL - PRICES RISE TO 31/2 MTH HIGH ON OIL, ECONOMY - INTERACTIVE INVESTOR
Interactive Investor reported that, Prices of power-station coal from Australia, a benchmark for Asia, rose to a three-and-a-half-month high of over ...
Thursday, 04 June 09
PTT: RESTRUCTURING BUSINESS, DIVERSIFYING INTO COAL - EASYBOURSE
Thailand's largest energy conglomerate, PTT PCL (PTT.TH), will diversify into coal as part of its business restructuring, Senior Executive Vice Pre ...
Thursday, 04 June 09
ADARO SECURES THREE NEW CONTRACTS, SAYS OUTLOOK POSITIVE - THE JAKARTA POST
Publicly listed PT Adaro Energy, the country's second largest coal miner, announced Wednesday it had secured three new coal contracts from buyers f ...
Wednesday, 03 June 09
XSTRATA, KOMIPO AGREE SOME '09 COAL TONNAGE AT $63/T- REUTERS
South Korean utility Korea Midland Power Co (KOMIPO) has agreed to buy part of its 2009 term contract tonnage from Xstrata's coal unit at about $63 ...
|
|
|
Showing 6706 to 6710 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Bharathi Cement Corporation - India
- Electricity Generating Authority of Thailand
- Mjunction Services Limited - India
- Planning Commission, India
- OPG Power Generation Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
- Iligan Light & Power Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Energy Link Ltd, New Zealand
- Semirara Mining Corp, Philippines
- ICICI Bank Limited - India
- European Bulk Services B.V. - Netherlands
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Economic Council, Georgia
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- GN Power Mariveles Coal Plant, Philippines
- Cement Manufacturers Association - India
- Power Finance Corporation Ltd., India
- Directorate Of Revenue Intelligence - India
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Savvy Resources Ltd - HongKong
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- Energy Development Corp, Philippines
- International Coal Ventures Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Parliament of New Zealand
- Sakthi Sugars Limited - India
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Carbofer General Trading SA - India
- TNB Fuel Sdn Bhd - Malaysia
- Oldendorff Carriers - Singapore
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Independent Power Producers Association of India
- White Energy Company Limited
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- PNOC Exploration Corporation - Philippines
- Marubeni Corporation - India
- Sical Logistics Limited - India
- Standard Chartered Bank - UAE
- Straits Asia Resources Limited - Singapore
- Agrawal Coal Company - India
- Bayan Resources Tbk. - Indonesia
- Xindia Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- Manunggal Multi Energi - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Formosa Plastics Group - Taiwan
- Central Java Power - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Australian Coal Association
- Grasim Industreis Ltd - India
- Australian Commodity Traders Exchange
- Sarangani Energy Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Posco Energy - South Korea
- Edison Trading Spa - Italy
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- McConnell Dowell - Australia
- Samtan Co., Ltd - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Binh Thuan Hamico - Vietnam
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Energy Exchange, India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Coal and Oil Company - UAE
- Larsen & Toubro Limited - India
- Price Waterhouse Coopers - Russia
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Simpson Spence & Young - Indonesia
- Kepco SPC Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Makarim & Taira - Indonesia
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Merrill Lynch Commodities Europe
- The University of Queensland
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Wood Mackenzie - Singapore
- Intertek Mineral Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Interocean Group of Companies - India
- Rio Tinto Coal - Australia
- Goldman Sachs - Singapore
- GAC Shipping (India) Pvt Ltd
- Mercuria Energy - Indonesia
- Port Waratah Coal Services - Australia
- Ministry of Mines - Canada
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Indika Energy - Indonesia
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Bhushan Steel Limited - India
- Mintek Dendrill Indonesia
- AsiaOL BioFuels Corp., Philippines
- Medco Energi Mining Internasional
- LBH Netherlands Bv - Netherlands
- Vedanta Resources Plc - India
- Deloitte Consulting - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Eastern Coal Council - USA
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ministry of Transport, Egypt
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Essar Steel Hazira Ltd - India
- Ambuja Cements Ltd - India
- CIMB Investment Bank - Malaysia
- Renaissance Capital - South Africa
- Billiton Holdings Pty Ltd - Australia
- Neyveli Lignite Corporation Ltd, - India
- Heidelberg Cement - Germany
- Kaltim Prima Coal - Indonesia
- PTC India Limited - India
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- GVK Power & Infra Limited - India
- Kideco Jaya Agung - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Sindya Power Generating Company Private Ltd
- Aditya Birla Group - India
- Petron Corporation, Philippines
- Latin American Coal - Colombia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Ind-Barath Power Infra Limited - India
- Dalmia Cement Bharat India
- Malabar Cements Ltd - India
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- The Treasury - Australian Government
- Uttam Galva Steels Limited - India
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Wilmar Investment Holdings
|
| |
| |
|
