We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 24 August 09
INDONESIAN GOVT ASKED TO CONTROL COAL TRADERS, BROKERS
.jpg) The Jakarta Post, the leading English news paper in Indoneisa reported that, Businesses are urging the government to bring all coal traders and brokers under control, after the unbridled fraud in the trading of the commodity claimed several foreign investors recently in Kalimantan and Sumatra.
Coal trader Edi Suhardi said the lax control in the industry had made foreign investors the easy targets of fraudsters.
"The government should guarantee legal certainty in the sector, otherwise the fraud cases will keep happening," said the Palangkaraya-based businessman over the weekend.
Recently, US global financial services firm Morgan Stanley was deceived by local partner PT Kerja Sama Tim Enterprise (KSTE), which defaulted on a US$3.9 million coal deal, causing the foreign investor losses of more than $1 million.
KSTE had been contracted to supply 50,000 tons of coal to Morgan Stanley through its branch office in Singapore. But the local partner only sent 16,000 tons in two shipments, with the second consignment falling short of the specifications detailed in the agreement.
A court in Banjarmasin, South Kalimantan, recently sentenced KSTE president director Zul Qamar to two years in prison for the crime.
"Zul Qamar received $1.9 million from Morgan Stanley Capital Group Inc., but the value of the coal shipped was less than $900,000," said prosecutor Ai Suniati.
Another major fraud case has seen US firm Glencore, a widely diversified commodities trading business, suffered losses of $2 million to a local company in Kalimantan last year.
Central Kalimantan coal trader Imam said the increase in global demand for coal had drawn illegal brokers into entering the lucrative business. "Many of them try to make as big a profit as possible by violating the regulations," he said.
"Their only capital is a bundle of documents, which they use to win over less-scrutinizing foreign investors."
Barnabas Irianto, a consultant for Australian company PT GMT Indonesia, which is involved in surveying and trading of coal in South Kalimantan, said the widespread fraud had also claimed local businesses as victims.
"These cases, however, of local sellers being cheated, aren't all that widely publicized," he said.
The case of PT Nusantara Thermal Coal (NTC), which had defrauded local investors in Bungo regency, Jambi, of $8 million, is one such example.
Imam said that to prevent more investors falling victim to fraud, the government should implement a mechanism that got rid of all loopholes that could be manipulated.
"Sometimes there's been an overlap of coal mining areas as laid out in documents," he said.
"So certain concessions are licensed in multiple documents. This *overlap* is made possible because coal mining concessions can be issued by the government as well as local authorities, although the latter are limited to 10,000-hectare concessions.
"But they can, for instance, issue five licenses per person, each for 5,000 hectares," he went on.
"So it can happen that certain areas granted by the government in one license are also included in another license issued by regents."
Imam added coal concessions could also be subcontracted to multiple investors, thereby putting the latter in a quandary when supplying coal to buyers.
"The government should end this kind of uncertainty," he said.
Source: The Jakarta Post
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Thursday, 20 August 09
INDONESIA'S DELTA DUNIA BUYS COAL FIRM FOR $550 MLN
* Delta Dunia to acquire BUMA for $550 million
* Expect to complete the deal in the fourth quarter of 2009
* Delta Dunia has appointed Barclays Ca ...
Thursday, 20 August 09
MUNDRA PORT BAGS MORMUGAO PORT COAL TERMINAL DEVELOPMENT CONCESSIONS
NDTV reported that, Mundra Port and Special Economic Zone (Mundra Port) the largest private port in India has won the bid for the development of coa ...
Thursday, 20 August 09
INDONESIA'S BUKIT ASAM SET FOR MINE ACQUISITIONS
* Allocates $150 million for coal mine acquisitions
* Expects one deal to be completed by the end of 2009
Reuters world's largest international ...
Thursday, 20 August 09
INDONESIAN COAL EXPORT LESSENS IN FIRST SEMESTER
Domestic coal use has grown by five million tons.
Viva News reported that, Domestic coal export up until the first half of 2009 decreased by four ...
Wednesday, 19 August 09
STEAM COAL PRICES ARE SINKING - THE GERMAN COAL IMPORTERS ASSOCIATION
COALspot.com (German): Oversupply in the World Market. In 2Q 2009 the steam coal prices sank massive in comparison to the previous years quart ...
|
|
|
Showing 6486 to 6490 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Neyveli Lignite Corporation Ltd, - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Asmin Koalindo Tuhup - Indonesia
- ASAPP Information Group - India
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Posco Energy - South Korea
- Ceylon Electricity Board - Sri Lanka
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- Sojitz Corporation - Japan
- Barasentosa Lestari - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- London Commodity Brokers - England
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Central Electricity Authority - India
- Jindal Steel & Power Ltd - India
- Energy Development Corp, Philippines
- Marubeni Corporation - India
- Medco Energi Mining Internasional
- Indonesian Coal Mining Association
- Kartika Selabumi Mining - Indonesia
- Australian Commodity Traders Exchange
- Karbindo Abesyapradhi - Indoneisa
- South Luzon Thermal Energy Corporation
- Altura Mining Limited, Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Planning Commission, India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Holcim Trading Pte Ltd - Singapore
- GAC Shipping (India) Pvt Ltd
- Electricity Generating Authority of Thailand
- Singapore Mercantile Exchange
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- Bayan Resources Tbk. - Indonesia
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Meralco Power Generation, Philippines
- Tata Chemicals Ltd - India
- Wood Mackenzie - Singapore
- PowerSource Philippines DevCo
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Antam Resourcindo - Indonesia
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Orica Mining Services - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Star Paper Mills Limited - India
- Africa Commodities Group - South Africa
- Petrochimia International Co. Ltd.- Taiwan
- SMC Global Power, Philippines
- GMR Energy Limited - India
- Port Waratah Coal Services - Australia
- CNBM International Corporation - China
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Bhoruka Overseas - Indonesia
- Mjunction Services Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Metalloyd Limited - United Kingdom
- Grasim Industreis Ltd - India
- Commonwealth Bank - Australia
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Formosa Plastics Group - Taiwan
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Economic Council, Georgia
- Directorate General of MIneral and Coal - Indonesia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Aboitiz Power Corporation - Philippines
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- SMG Consultants - Indonesia
- Binh Thuan Hamico - Vietnam
- Karaikal Port Pvt Ltd - India
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Sindya Power Generating Company Private Ltd
- Bhatia International Limited - India
- Madhucon Powers Ltd - India
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- Xindia Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- IHS Mccloskey Coal Group - USA
- Iligan Light & Power Inc, Philippines
- Essar Steel Hazira Ltd - India
- Meenaskhi Energy Private Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Jaiprakash Power Ventures ltd
- Indogreen Group - Indonesia
- Vizag Seaport Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Miang Besar Coal Terminal - Indonesia
- Wilmar Investment Holdings
- Australian Coal Association
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Makarim & Taira - Indonesia
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Ambuja Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- Independent Power Producers Association of India
- VISA Power Limited - India
- Ministry of Mines - Canada
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- McConnell Dowell - Australia
- Gujarat Electricity Regulatory Commission - India
- Electricity Authority, New Zealand
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Lanco Infratech Ltd - India
- Power Finance Corporation Ltd., India
- Chettinad Cement Corporation Ltd - India
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- Timah Investasi Mineral - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Bukit Makmur.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Therma Luzon, Inc, Philippines
- Interocean Group of Companies - India
- Central Java Power - Indonesia
- Global Coal Blending Company Limited - Australia
- Baramulti Group, Indonesia
- Chamber of Mines of South Africa
- Attock Cement Pakistan Limited
- The University of Queensland
- Bangladesh Power Developement Board
- CIMB Investment Bank - Malaysia
- Edison Trading Spa - Italy
- Gujarat Sidhee Cement - India
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Larsen & Toubro Limited - India
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Standard Chartered Bank - UAE
- San Jose City I Power Corp, Philippines
- Malabar Cements Ltd - India
- Minerals Council of Australia
- Vijayanagar Sugar Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- PNOC Exploration Corporation - Philippines
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Kumho Petrochemical, South Korea
- Videocon Industries ltd - India
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
|
| |
| |
|
