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Sunday, 05 January 14
CENTRAL BUREAU OF INVESTIGATION OF INDIA REGISTERS CASES IN CONNECTION WITH ALLEGED SUPPLY OF LOW QUALITY INDONESIAN COAL BY A PRIVATE COMPANY TO NTPC & NSPCL
 COALspot.com: The Central Bureau of Investigation of India has registered two cases regarding alleged supply of low quality imported Indonesian coal by a private company to different power plants of National Thermal Power Corporation(NTPC) and NTPC-SAIL Power Corporation Ltd.(NSPCL) respectively in conspiracy with certain officials of the concerned power plants.
According to CBI’s press release, the first case has been registered against Addl. G.M, Head of NTPC Power Plant Lab, Unchahar; Dy. Manager, NTPC Power plant Lab, Unchahar, Indore based coal trading private company, Singapore based coal trading company, East Jakarta, (Indonesia) based independent coal testing company, Kolkata based coal testing private company and Chemist of Kolkata based coal testing private company and Unknown others.
CBI, further said that, It is alleged that the accused persons during the period 2011-13 entered into criminal conspiracy with an intention to cheat NTPC. In pursuance of the said criminal conspiracy, inferior quality non-cooking coal of Indonesian origin, shown to be of good quality on papers, was purchased from Indonesia by Singapore based coal trading company, overseas supplier and sister concern of Indore based group of companies. Thereafter, the said inferior quality coal was brought to India in different vessels, vide different Bill of Entries, having gross calorific value, far less than technical specifications of the agreement and thus liable to be rejected, and was supplied to NTPC power plant at Unchahar, which has resulted in a wrongful loss of approximately US$ 3,720,922 ( Rs. 231,638,574/- approximately.)
The second case has been registered against Sr. Manager, Head of NSPCL Power Plant Lab, Bhilai, a Chemist, NSPCL Power Plant Lab, Bhilai, Indore based private coal trading company, Singapore based coal trading company, Mumbai based private Laboratories, Branch Head & other Asst. Manager (Marketing) both of Mumbai based private Laboratories and Unknown others.
CBI’s press release further says, It is alleged that the accused persons during the period 2011-13 entered into criminal conspiracy with an intention to cheat NSPCL, Bhilai Power Plant. In pursuance of the said criminal conspiracy, inferior quality non-cooking coal of Indonesian origin , shown to be of good quality on papers, was purchased from Indonesia by Singapore based company, overseas supplier and sister concern of Indore based group of companies. Thereafter the said inferior quality coal was brought to India in different vessels , vide different Bill of Entries , having gross calorific value, far less than technical specifications of the agreement and thus liable to be rejected, and was supplied to NSPCL, Bhilai Power Plant, which has resulted in a wrongful loss of approximately US$ 14,925,474 ( Rs 929,155,588/- approximately.)
Searches were conducted at office & residential premises of Addl. GM & Dy. Manager, both of NTPC Unchahar Distt,. Raibareily ; Sr. Manager & Chemist, both of NSPCL, Bhilai apart from various premises of a private company based at Indore and private laboratories based at Mumbai, Kolkata, Gandhidham & Jamnagar. Incriminating documents recovered during the searches are being scrutinized.
CBI says further investigation is continuing.
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Thursday, 31 July 14
RIO TINTO SELLS MOZAMBIQUE COAL ASSETS FOR US$ 50 MILLION TO INDIA'S ICVL
COALspot.com: Rio Tinto has agreed to sell its Mozambique coal assets for just US$ 50 million to International coal ventures Private limited of Ind ...
Wednesday, 30 July 14
CAPES SEEMED TO BE STRANDED AT THE SAME LEVELS; PANAMAXES MANAGED TO SLIGHTLY REVIVE - INTERMODAL
COALspot.com: The Dry Bulk market took a breath this past week, as both Panamaxes and Supras started to see a small influx of activity, which was j ...
Tuesday, 29 July 14
TOTAL SELLS ITS SOUTH AFRICAN COAL MINING ASSETS TO EXXARO
Total has signed an agreement with Exxaro Resources Ltd for the sale of its 100% stake in Total Coal South Africa (TCSA), its coal-producing affili ...
Tuesday, 29 July 14
GENCO: DRY BULK SHIPPING VALUATIONS NO LONGER ANCHORED TO DISCOUNTED CASH FLOW METHOD - WEIL
KNOWLEDGE TO ELEVATE
Discounted cash flow analysis is a mainstay among the valuation methodologies used by restructuring professionals and bank ...
Tuesday, 29 July 14
SHIP OWNERS' DEMAND OF NEW VESSELS DENTED AS A RESULT OF LOWER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The sharp downward direction of dry bulk freight rates has had a negative impact on investors’ secondhand buying appetite that wait to see th ...
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- Straits Asia Resources Limited - Singapore
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Sakthi Sugars Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Mines - Canada
- Coal and Oil Company - UAE
- MS Steel International - UAE
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Bulk Trading Sa - Switzerland
- Planning Commission, India
- Borneo Indobara - Indonesia
- Formosa Plastics Group - Taiwan
- Chamber of Mines of South Africa
- PNOC Exploration Corporation - Philippines
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Vijayanagar Sugar Pvt Ltd - India
- Malabar Cements Ltd - India
- Oldendorff Carriers - Singapore
- Dalmia Cement Bharat India
- LBH Netherlands Bv - Netherlands
- Indian Energy Exchange, India
- Minerals Council of Australia
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Trasteel International SA, Italy
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Goldman Sachs - Singapore
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- Bhushan Steel Limited - India
- Singapore Mercantile Exchange
- Bhoruka Overseas - Indonesia
- Standard Chartered Bank - UAE
- Coalindo Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Eastern Energy - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Sojitz Corporation - Japan
- Marubeni Corporation - India
- Indika Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhatia International Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Indogreen Group - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- New Zealand Coal & Carbon
- Mercuria Energy - Indonesia
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Larsen & Toubro Limited - India
- Xindia Steels Limited - India
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- Ministry of Transport, Egypt
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Kideco Jaya Agung - Indonesia
- Posco Energy - South Korea
- Jaiprakash Power Ventures ltd
- Semirara Mining Corp, Philippines
- Altura Mining Limited, Indonesia
- The State Trading Corporation of India Ltd
- Australian Coal Association
- Mintek Dendrill Indonesia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- IEA Clean Coal Centre - UK
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Tata Chemicals Ltd - India
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Bukit Makmur.PT - Indonesia
- White Energy Company Limited
- Romanian Commodities Exchange
- Price Waterhouse Coopers - Russia
- ASAPP Information Group - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Electricity Generating Authority of Thailand
- Latin American Coal - Colombia
- Krishnapatnam Port Company Ltd. - India
- Timah Investasi Mineral - Indoneisa
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- The Treasury - Australian Government
- Ambuja Cements Ltd - India
- Samtan Co., Ltd - South Korea
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- San Jose City I Power Corp, Philippines
- SMC Global Power, Philippines
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Iligan Light & Power Inc, Philippines
- Rashtriya Ispat Nigam Limited - India
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Essar Steel Hazira Ltd - India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Vedanta Resources Plc - India
- ICICI Bank Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Wilmar Investment Holdings
- Bank of Tokyo Mitsubishi UFJ Ltd
- Antam Resourcindo - Indonesia
- Kepco SPC Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Sree Jayajothi Cements Limited - India
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Grasim Industreis Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Tamil Nadu electricity Board
- Videocon Industries ltd - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Karaikal Port Pvt Ltd - India
- McConnell Dowell - Australia
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Manunggal Multi Energi - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- The University of Queensland
- Central Electricity Authority - India
- Gujarat Sidhee Cement - India
- Medco Energi Mining Internasional
- Indo Tambangraya Megah - Indonesia
- Africa Commodities Group - South Africa
- Pendopo Energi Batubara - Indonesia
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- Wood Mackenzie - Singapore
- Kohat Cement Company Ltd. - Pakistan
- IHS Mccloskey Coal Group - USA
- Commonwealth Bank - Australia
- Ceylon Electricity Board - Sri Lanka
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Attock Cement Pakistan Limited
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Eastern Coal Council - USA
- Power Finance Corporation Ltd., India
- Simpson Spence & Young - Indonesia
- Sarangani Energy Corporation, Philippines
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